Cornelis Completes $205 Million Financing, Competing with Nvidia

AI networking technology company Cornelis has announced the completion of a $205 million financing round led by IAG Capital Partners. The company, which spun off from Intel in 2020, develops networking technology that helps AI chips communicate more efficiently. It has launched a product called Active Compute Fabric, aimed at addressing the issue of significant GPU time wasted waiting for data to arrive by allowing chips to process and send information simultaneously. Cornelis competes with Nvidia through an open architecture, enabling customers to use various GPU and accelerator hardware on its network architecture. Although Nvidia's chips can technically run on other network architectures, they are optimized for Nvidia's own software, making customers more inclined to use the full suite of Nvidia GPU stacks. Cornelis has begun shipping products and is developing a next-generation product expected to be released later this year.

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