SiMa.ai secures $70M funding to introduce a multimodal GenAI chip
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SiMa.ai, a Silicon Valley-based startup, has raised $70 million in funding to bring its second-generation chipset, specifically built for multimodal generative AI processing, to market. The market for AI-supporting chips globally is forecast to more than double by 2027 to $119.4 billion. SiMa.ai aims to offer its edge AI system-on-chip (SoC) to organizations across various sectors. The startup plans to introduce its second-generation ML SoC in Q1 2025, which will be compatible with any modality, including audio, speech, text, and image. SiMa.ai considers Nvidia as its primary competitor in the edge AI market. The funding round was led by Maverick Capital and brings the total funding raised by SiMa.ai to $270 million.

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https://techcrunch.com/2024/04/04/sima-ai-70m-funding-multimodal-genai-chip/