Startup Rivos raises $250 million to develop RISC-V AI chips

FILE PHOTO: Words reading "Artificial intelligence AI", miniature of robot and toy hand are pictured in this illustration taken December 14, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Chip startup Rivos said on Tuesday it raised $250 million in a funding round that will enable it to manufacture its first server chip geared for artificial intelligence.

Nvidia's combination of chips and CUDA software dominates the market for AI-related computing, and Nvidia gobbled up more than 80% market share of AI chips in 2023. But a host of startups and chip giants have started to launch competing products, such as Intel's Gaudi 3 and Meta's inference chip - both unveiled last week.