Snowcap Compute raises $23 million for superconducting AI chips

Snowcap Compute, a startup working on building artificial intelligence computing chips using superconducting technology, on Monday raised $23 million and said that the former CEO of Intel will join its board.

Snowcap aims to build computers that could one day beat today’s best artificial intelligence systems, while using a fraction of the electricity. To do that, Snowcap plans to use a new kind of chip made with superconductors, which are materials that allow current to flow without electrical resistance.