FuriosaAI, a South Korean startup specializing in AI chips, has just declared the conclusion of its Series D funding phase. It has successfully garnered $620 million, propelling its valuation to $2.9 billion, which is nearly four times its previous valuation. This particular funding round drew in numerous investment entities from both within South Korea and around the globe. Notably, the Korea Export-Import Bank selected FuriosaAI as the recipient of its inaugural direct investment in a startup.

Established in 2017, FuriosaAI commenced mass production of its RNGD chip in January of this year. It has also entered into a partnership with Broadcom to create a third-generation AI accelerator tailored for large-scale AI infrastructure. This accelerator is designed to enhance energy efficiency by minimizing high-power data transmission within the chip. Its goal is to make inroads into the AI data center inference market, which is currently dominated by NVIDIA.

At present, FuriosaAI's chips have been embraced by several South Korean companies. TSMC has plans to manufacture 20,000 related accelerators for FuriosaAI this year. In response, FuriosaAI aims to ramp up production to exceed 40,000 units by 2027.