FuriosaAI

AI Chips · Semiconductors · Data Center Infrastructure

Funding

FuriosaAI closes $620M Series D at $2.9B valuation, chasing Nvidia

South Korea's state investment fund now picks national champions in the chip race, betting on power efficiency over raw compute.

• FuriosaAI closed a $620 million Series D led by South Korea's National Growth Fund, which contributed $280 million, lifting its post-money valuation to about $2.9 billion.
• The Seoul-based startup builds the RNGD inference chip, which it says uses less than half the power of Nvidia GPUs while supporting frameworks like PyTorch and vLLM.
• International investors added $110 million led by U.S.-based Infinitum, while existing backers NAVER, Korea Development Bank and Kakao Investment made follow-on contributions.
• The new valuation is roughly four times the $735 million FuriosaAI was worth after a $125 million Series C bridge round in July 2025, when it reportedly rejected an $800 million Meta takeover offer.
• FuriosaAI is the second company tapped under Seoul's 'K-Nvidia' push after rival Rebellions, which raised $400 million at a $2.34 billion valuation in March with state backing.
• FuriosaAI plans to expand RNGD production, grow its software ecosystem, and develop a third-generation hyperscale AI accelerator in partnership with Broadcom.
• As AI data centers increasingly hit power and grid constraints rather than compute shortages, energy-efficient inference silicon is becoming a core battleground against Nvidia's dominance.