Key facts
- AI startup Oxmiq raised $35 million in a new funding round.
- The company aims to develop integrated chip design architecture and software for AI applications.
- Oxmiq plans to combine graphics chips, central processors, and tensor engines into a single IP block.
- The $35 million will be used to finalize intellectual property and make it available as a product.
- Oxmiq has raised a total of $60 million.
Artificial intelligence startup Oxmiq announced on Wednesday that it has secured $35 million in investor funding to develop chip design architecture and software intended to reduce the cost of building and running AI applications.
Developing advanced AI chips typically requires hundreds of millions of dollars and several years for design and software support. Oxmiq's strategy, as outlined by Chief Executive Raja Koduri, is to consolidate three distinct AI system components—graphics chips, central processors, and a tensor engine—into a single block of intellectual property for licensing. Koduri likened the company's ambition to that of Arm Holdings, which provides designs for most of the world's smartphones.
The company also plans to create a computing fabric that integrates chiplets and memory within a single package. Koduri, a former Intel chief architect and ex-AMD executive, indicated that Oxmiq will also compete in the custom chip market against established players like Broadcom, Marvell, and MediaTek.
The newly raised $35 million will be allocated to completing the initial batch of intellectual property and making it available as a product. Oxmiq also intends to expand its engineering team. With this latest round, Oxmiq has raised a total of $60 million. The funding was led by Samsung Catalyst Fund and Fudomo, with participation from Taiwan's MediaTek and Pegatron Venture Capital.