On December 17, chip startup Mythic Inc. announced that it had successfully secured $125 million in a fresh round of funding. This financial boost positions the company to take on Nvidia in the fiercely competitive artificial intelligence processor market. As stated in a Wednesday announcement, Mythic brought on board Nvidia veteran Taner Ozcelik as its CEO the previous year. The funding round was spearheaded by venture capital firm DCVC, with additional investments from SoftBank Group, Honda Motor Co., and other notable entities.

Mythic stands out for its innovative method of managing the vast data volumes necessary for running artificial intelligence software. The company's technology leverages analog chips, which offer a substantial power consumption advantage over the digital components traditionally employed as the computational 'brains' of computers. Ozcelik, who spent a decade at Nvidia and was profoundly influenced by Nvidia's co-founder and CEO Jensen Huang, stated, "Our objective is clear: we aim to close the gap with Nvidia."