FuriosaAI Completes $620 Million Financing, Valuation Reaches $2.9 Billion

South Korean AI chip company FuriosaAI has completed a $620 million Series D financing round, raising its valuation to $2.9 billion, approximately four times the previous round's valuation of $735 million. Investors include Infinitum Partners from the U.S., the Korean National Growth Fund (which contributed $280 million), Jericho Capital, Worldline Capital, Singapore's QUDA Capital, and Abu Dhabi's NeoFort Holding. Existing shareholders Naver, Korea Development Bank, DSC Investment, Nextrans, and Kakao Investment also participated. The Export-Import Bank of Korea made its first direct investment in a startup. Founded in 2017, FuriosaAI began mass production of its RNGD inference chips in January this year and is collaborating with Broadcom to develop a third-generation accelerator. TSMC will produce 20,000 RNGD chips for them this year, with plans to increase production to over 40,000 by 2027.