Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Retirement mutual funds’ AUM jumps 226% in 5 years: Here are the top 10 performers
    • Specialised investment funds: What investors should know about SEBI’s ₹10 lakh rule
    • Japanese bonds log weekly foreign outflows on BOJ policy caution
    • NRI Mutual Fund Taxation: All You Need To Know About TDS And Importance Of Transaction Date In FY25 | Business News
    • US Exchanges Ask SEC to Consider Rule Change to Speed Up Crypto ETFs
    • GL Supports Next-Gen SIP Testing and Emulation
    • What Are Bonds? A Beginner’s Guide (2025)
    • Sip smarter this summer: Discover the ‘Magic of Moderate Drinking’ with these simple tips
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Funds»AI Chip Startup Kneron Seeks Funds at $1 Billion Valuation
    Funds

    AI Chip Startup Kneron Seeks Funds at $1 Billion Valuation

    October 22, 2024


    (Bloomberg) — Artificial intelligence chip startup Kneron Inc. is in talks to raise $300 million in its latest funding round, which could value the Taiwanese-American company at about $1 billion, according to two people with knowledge of the matter.

    Most Read from Bloomberg

    Kneron wants to use the funds for product innovation and expansion, including opening a regional office in Saudi Arabia, according to an investor presentation seen by Bloomberg News. Eventually, it wants to build a research and development lab there, the people said, asking to remain anonymous describing private negotiations.

    It was unclear who would be participating in the latest funding round or how much has been secured. Kneron has previously received funding from Qualcomm Ventures, Sequoia Capital China (now known as HongShan), iPhone maker Hon Hai Precision Industry Co. and Hong Kong billionaire Li Ka-Shing’s Horizons Ventures.

    This is expected to be Kneron’s last funding round before going public, according to the presentation, which it plans to show during an Investor Day hosted under Saudi Arabia’s National Semiconductor Hub on Wednesday. Its listing is tentatively slated for 2025. Kneron signed a non-binding letter of intent to list on the Nasdaq through a special purpose acquisition company, Spark I Acquisition Corp., which is sponsored by one of its investors SparkLabs Group, according to a US securities filing on Monday.

    Negotiations are proceeding and the funding could still fall apart or fail to hit its target.

    Kneron is the latest AI chip firm to seek expansion in Saudi Arabia as the oil-rich nation builds up its digital economy. US-based SambaNova Systems and Groq, as well as South Korea’s Rebellions, are among the startups that have partnered with Saudi firms in the last year.

    Kneron was founded in 2015 by former Qualcomm Inc. engineer Albert Liu and has headquarters in San Diego and Taipei. It makes AI processors that power consumer goods like surveillance cameras and cars without needing to connect to the internet or use cloud-based systems.

    Its so-called neural processing unit, or NPU, is a versatile chip that can be composed like Lego blocks to support different purposes efficiently, and can be used in data centers to run or eventually train AI models, Liu previously told Bloomberg. Kneron’s chips are manufactured by Taiwan Semiconductor Manufacturing Co. and they are used in Hon Hai Precision’s electric cars as well as South Korean firm Hanwha Vision Co.’s surveillance cameras.

    While the AI investor frenzy has focused on Nvidia Corp., whose chips became coveted hardware for training advanced tools like OpenAI’s ChatGPT, a growing number of startups are targeting the market for running trained AI models on so-called edge devices, including smartphones, PCs, cameras, cars, drones and robots. Bloomberg Intelligence last year estimated that the edge AI chip market could be more than triple the size of cloud-based AI by the end of 2032.

    Most Read from Bloomberg Businessweek

    ©2024 Bloomberg L.P.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    Specialised investment funds: What investors should know about SEBI’s ₹10 lakh rule

    July 30, 2025

    Official: Barcelona secure €40m funds boost

    July 30, 2025

    QSE edges up as foreign funds increase net buying

    July 30, 2025
    Leave A Reply Cancel Reply

    Top Posts

    Retirement mutual funds’ AUM jumps 226% in 5 years: Here are the top 10 performers

    July 30, 2025

    Qu’est-ce qu’un green bond ?

    December 7, 2017

    les cat’ bonds deviennent incontournables

    September 5, 2018

    ETF : définition et intérêt des trackers

    May 15, 2019
    Don't Miss
    Mutual Funds

    Retirement mutual funds’ AUM jumps 226% in 5 years: Here are the top 10 performers

    July 30, 2025

    Growing investor trust, enhanced transparency and stronger investor protection have made retirement mutual funds an…

    Specialised investment funds: What investors should know about SEBI’s ₹10 lakh rule

    July 30, 2025

    Japanese bonds log weekly foreign outflows on BOJ policy caution

    July 30, 2025

    NRI Mutual Fund Taxation: All You Need To Know About TDS And Importance Of Transaction Date In FY25 | Business News

    July 30, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Greenstone Resources et Fratelli Investments vendent leurs actions Serabi Gold

    April 22, 2025

    Passage of GO Bond 3 would provide $1 million to UNM-Los Alamos: UNM Newsroom

    October 28, 2024

    Stocks and bonds are behaving like the US economy is recession-proof

    July 29, 2025
    Our Picks

    Retirement mutual funds’ AUM jumps 226% in 5 years: Here are the top 10 performers

    July 30, 2025

    Specialised investment funds: What investors should know about SEBI’s ₹10 lakh rule

    July 30, 2025

    Japanese bonds log weekly foreign outflows on BOJ policy caution

    July 30, 2025
    Most Popular

    ₹10,000 monthly SIP in this debt mutual fund has grown to over ₹70 lakh in 23 years

    June 13, 2025

    ₹1 lakh investment in these 2 ELSS mutual funds at launch would have grown to over ₹5 lakh. Check details

    April 25, 2025

    ZIG, BUZZ, NANC, and KRUZ

    October 11, 2024
    © 2025 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.