FuriosaAI Raises $620 Million in Series D Funding

According to FuriosaAI, the South Korean artificial intelligence (AI) chip startup has completed a $620 million Series D funding round, bringing its valuation to $2.9 billion and strengthening its position in the AI accelerator market dominated by NVIDIA.

Announced on October 29, the funding round attracted investors including U.S.-based Infinitum Partners and South Korea’s National Growth Fund, which contributed $280 million, alongside $110 million from international investors. Other participants included Jericho Capital, Worldline Capital, Singapore-based QUDA Capital, and Abu Dhabi-based NeoFort Holding.

The investment reflects growing interest in alternatives to NVIDIA’s AI chips, particularly processors designed to deliver higher energy efficiency. AI inference, the process of using trained models to generate outputs, has become a key area of competition as rising AI workloads increase electricity consumption and operating costs.

Founded in 2017, FuriosaAI began mass production of its RNGD AI accelerator in January 2026. The company is also working with Broadcom to develop its third-generation accelerator for large-scale AI infrastructure. Its chip architecture is designed to reduce energy-intensive data movement, potentially improving efficiency in AI computing systems. In its previous funding round, FuriosaAI was valued at $735 million.

According to the company, Taiwan Semiconductor Manufacturing Company (TSMC) is producing 20,000 RNGD accelerators in 2026, with output expected to increase to more than 40,000 units by 2027. Samsung SDS, LG Group, and South Korean AI startup Upstage have already begun using the chips.

Existing investors Naver Corp., Korea Development Bank, DSC Investment, Nextrans, and Kakao Investment also participated in the latest round. The Export-Import Bank of Korea joined the financing, marking its first direct investment in a startup.