FuriosaAI raises $620 million to expand AI chip production
The Series D financing values the Seoul-based chipmaker at about $2.9 billion, with South Korea’s National Growth Fund providing $280 million.
Seoul-based FuriosaAI said it has raised $620 million in Series D funding to increase production of its RNGD artificial intelligence chips, upgrade software and develop a third-generation processor. The financing puts the company’s valuation at about $2.9 billion.
South Korea’s National Growth Fund was the biggest investor, contributing $280 million. International investors supplied $110 million, led by US firm Infinitum, while existing shareholders contributed $125 million. Other participants included Cisco Investments, Jericho Capital and Singapore’s QUDA Capital Partners.
FuriosaAI focuses on inference chips, which run AI models after training. Its second-generation RNGD entered mass production in January. Bloomberg reported that TSMC is producing 20,000 chips for the company this year. FuriosaAI says it has secured enough memory and manufacturing capacity for more than 40,000 in 2027.
The company says its 180-watt RNGD card uses air cooling and matches the throughput of Nvidia’s RTX PRO 6000 on a per-card basis. TNW said it had not independently tested the performance claims.
Samsung SDS introduced an RNGD-based cloud service in July. FuriosaAI says LG Group uses the chips to run EXAONE models, while Upstage uses them for search summaries. The next-generation chip is being developed with Broadcom and other partners and will feature a 2nm, multi-die design using HBM4 memory, according to FuriosaAI.
