FuriosaAI raises Series D funding, reaches $2.9 billion valuation in South Korea
South Korea's push to build domestic artificial intelligence chip champions gains momentum as FuriosaAI secures fresh capital at a sharply higher valuation. The Seoul-based startup says the new financing lifts its valuation fourfold to $2.9 billion, strengthening its effort to compete with companies such as Nvidia Corp.
Highlights
- FuriosaAI raised $620 million in Series D funding, reaching a $2.9 billion valuation according to the company's statement Thursday.
- South Korea's National Growth Fund invested $280 million and international investors contributed $110 million, with backers including Infinitum Partners and NeoFort Holding.
- The funding strengthens FuriosaAI's competitive push against Nvidia Corp. as demand for AI computing hardware accelerates, supporting South Korea's ambitions in advanced semiconductors.
Funding round lifts valuation and expands backing
As reported by Bloomberg, FuriosaAI said Thursday that it raised $620 million in a Series D funding round, marking a major capital infusion for the South Korean AI chip startup as it scales its business.The company says South Korea's National Growth Fund contributed $280 million, while international investors added $110 million. Backers in the round include U.S.-based Infinitum Partners, Jericho Capital, Worldline Capital, Singapore's QUDA Capital and Abu Dhabi-based NeoFort Holding.
Competitive push in the AI chip sector
The new funding bolsters FuriosaAI's bid to challenge established AI chip makers led by Nvidia Corp., as demand for computing hardware tied to artificial intelligence continues to expand.For South Korea, the fundraising underscores investor interest in locally developed semiconductor technology and adds support to the country's broader ambition to strengthen its position in advanced chips.
In our earlier coverage of the intensifying AI safety debate, we highlighted calls for deeper cross-border coordination as advanced AI systems evolve rapidly. We noted Nvidia CEO Jensen Huang’s view that engagement with Chinese AI companies could help monitor potentially dangerous uses, and that the UK could serve as a neutral venue for international dialogue on managing AI risks.
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