FuriosaAI raises $620 million at a $2.9 billion valuation in its Nvidia chase
FuriosaAI raised $620 million at a $2.9 billion valuation, with Korea's National Growth Fund adding $280 million, as it chases Nvidia in inference chips.
A $620 million Series D at a post-money valuation of $2.9 billion: that is what FuriosaAI announced. South Korea's National Growth Fund committed KRW 370 billion, about $280 million, and international investors added $110 million, according to Bloomberg. Jericho Capital, Worldline Capital, QUDA Capital and NeoFort Holding are among them, and Cisco Investments is on the list too.
Startup Fortune reports the valuation is up from roughly $735 million in the prior funding, a fourfold jump in one raise.
The product is RNGD, the second-generation inference chip. The company says it hit mass production in January, with 20,000 cards planned this year and memory and fab capacity secured to more than double that in 2027. It is a 180-watt air-cooled PCIe card. Samsung SDS runs a subscription NPU cloud service on it, and LG Group is using it to power its EXAONE models.
The context: in March 2025, FuriosaAI turned down an acquisition offer from Meta worth roughly $800 million, Startup Fortune reports. A third-generation chip is in development with Broadcom, and the company is reportedly eyeing an IPO as early as 2027.
My take: say no to $800 million, come back to a $2.9 billion valuation and a national growth fund at your side. That is not a startup, that is a strategy with a very well-dressed balance sheet.
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Sources
- FuriosaAI closes $620 million Series D to scale efficient, production-ready AI inference, furiosa.ai
- FuriosaAI Quadruples Valuation to $2.9 Billion in Nvidia Chase, Bloomberg Law
- FuriosaAI's valuation jumps fourfold to $2.9 billion as it chases Nvidia, Startup Fortune
- Energy-efficient inference chip developer FuriosaAI raises $620M to solve the data center power bottleneck, SiliconANGLE
Meanwhile at the anchor desk
The company's blog says RNGD serves twice as many users per kW, while Startup Fortune reports up to 7.4 times more concurrent users than Nvidia's RTX Pro 6000 at the same power. Same chip, two multipliers, and no benchmark attached to either in what I have.
A 180-watt air-cooled PCIe card that fits existing racks with no cooling retrofit is the part I care about. The announcement gives no price, so I can't tell you what it costs to run yet.
