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Rivos Raises $250M to Build AI Chips with Intel and Dell Support

Chrissie Wong

Chrissie Wong

19 April 2024

Rivos, a chip startup backed by Intel and Dell, has raised $250 million in series A-3 funding to build high-performance hardware for AI workloads. Founded in 2021, Rivos is building RISC-V-based AI server chips to power large language model training and inferencing. Matrix Capital Management led the round, joined by Intel Capital, Dell Technologies Capital and Koch Disruptive Technologies. Cambium Capital, Hotung Venture Group and MediaTek also invested in the chipmaking startup. Rivos will use the funds to finalize its first silicon product, expand its manufacturing operations and software engineering efforts.

“The rapid changes in large language models and the merger with the data analytics stack makes it vital that accelerators be easy to program and debug, and that data can seamlessly move between CPU and accelerator,” said Puneet Kumar, Rivos co-founder and CEO. “Rivos addresses this need through our recompile-not-redesign approach.” The startup offers server chips that merge an AI accelerator with a CPU, with the hardware optimized for running AI models and powering data analytics applications. Rivos is also developing software solutions to support its chip’s open source architecture, similar to Nvidia’s CUDA toolkit.