Darpa-Backed Startup Seeks $70 Million to Join AI Chip Goldrush
Silicon Valley is racing to build a better chip for AI.
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A Silicon Valley startup backed by the US Defense Advanced Research Projects Agency is seeking at least $70 million more from investors in its quest to to develop an ultra-efficient chip for artificial intelligence technology, according to documents reviewed by Bloomberg.
The company, EnCharge AI Inc., joins the growing technological race to build better chips to power the current wave of AI technology. Computing power has become a scarce and precious resource in the AI world, helping send chipmaker Nvidia Corp.’s market cap soaring past $2 trillion and spurring OpenAI boss Sam Altman to seek billions for chipmaking endeavors.