AI chip firm Kneron raises $49 million as it looks to rival Nvidia, with Foxconn among backers
Publishing timestamp: 2023-09-26 12:13:36
Summary
Semiconductor startup Kneron has raised an additional $49 million in funding to accelerate the commercialization of its artificial intelligence chips. Investors include Foxconn and Alltek. Kneron aims to capitalize on the growing interest in AI and chip technology, with a focus on on-device AI for applications like autonomous driving. The company faces competition from giants like Qualcomm and MediaTek, but its high-profile backers and partnership with Foxconn provide opportunities for growth. Kneron's chips are manufactured by TSMC, but the geopolitical tensions between the US and China have led the company to plan for a more distributed production footprint in the US and Europe.
Sentiment: POSITIVE
Keywords: united states, venture capital, business news, semiconductor device manufacturing, internet, enterprise, apple inc, technology, artificial intelligence, nvidia corp, hon hai precision industry co ltd, generative ai, arm holdings plc, breaking news: technology,