An artificial intelligence chip startup called OXMIQ has raised $35 million to build a new kind of processor design it plans to license to other companies, according to Reuters reporter Max A. Cherney.
The company was founded by Raja Koduri, a former Intel executive, according to reporting surfaced via MSN. Reuters reports that OXMIQ said on Wednesday it raised the money to build chip technology aimed at lowering the cost of AI.
What sets the approach apart is how OXMIQ wants to package its technology. According to Reuters, the company aims to combine three key components — GPUs, CPUs, and a tensor engine (a part specialized for AI math) — into a single block of intellectual property that it can license to other chipmakers. Rather than selling finished chips, OXMIQ would sell the blueprint, an approach the MSN summary describes as trying to "democratize" AI chip development.
The funding round was led by the Samsung Catalyst Fund and Fudomo, according to Reuters. The Bing/MSN item characterizes the $35 million as Series A funding.
Why it matters: The soaring cost of building and running AI systems has been dominated by a handful of expensive chip suppliers, so a licensable, all-in-one design from a well-known industry veteran could give more companies a cheaper path to building their own AI hardware.