FuriosaAI completed a $620 million financing round, with a valuation of $2.9 billion

According to Bloomberg, South Korean AI chip startup FuriosaAI announced the completion of a $620 million Series D funding round, raising its valuation to $2.9 billion, approximately four times the previous round's valuation of $735 million.

Investors include U.S. Infinitum Partners, South Korea's National Growth Fund (which contributed $280 million), Jericho Capital, Worldline Capital, Singapore's QUDA Capital, Abu Dhabi's NeoFort Holding, and existing shareholders Naver, Korea Development Bank, DSC Investment, Nextrans, and Kakao Investment also participated. The Export-Import Bank of Korea made its first direct investment in a startup.

FuriosaAI was founded in 2017 and began mass production of its RNGD inference chips in January of this year, collaborating with Broadcom to develop the third-generation accelerator. TSMC will produce 20,000 RNGD chips for it this year, with plans to increase to over 40,000 by 2027.