AI Chip Startup Kneron Seeks Funds at $1 Billion Valuation
- AI firm plans to open regional office, R&D lab in Saudi Arabia
- Company targets Nasdaq listing in 2025 through SPAC vehicle
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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.
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.