Startup Oxmiq raises $35 million to build chip architecture to lower cost of AI

SAN FRANCISCO: Artificial intelligence startup Oxmiq said on Wednesday it raised $35 million from investors in order to build chip design architecture and software that will lower the cost of building and running AI applications.

Developing a cutting-edge AI chip can cost hundreds of millions of dollars and take ‌several years ⁠to ⁠make the requisite silicon design plans and necessary software to support it. Oxmiq’s goal is to collapse three distinct components of an AI system and combine them into a single block of IP that it can license, Chief Executive Raja Koduri said in an interview.