NEUCHIPS Secures $20 Million in Series B2 Funding to Deliver AI Inference Platform for Deep Learning Recommendation

SAN JOSE, Calif., October 17, 2022 (Newswire.com) - NEUCHIPS, a leader in AI ASIC platforms for deep learning recommendation, today announced series B2 funding of $20M. The round includes strategic investors Wistron, JAFCO Asia, Powerchip Group and new investor Raydium Semiconductor Corporation.

"We are excited to have Raydium join as a new investor," said Youn-Long Lin, Chairman and CEO of NEUCHIPS. "I am also pleased that our existing investors, who represent leaders in the worldwide semiconductor and cloud ecosystem, continue to support our growth plans."

"NEUCHIPS' focus on business integrity, technology innovation, talent development and value co-creation aligns with our vision," said Hermit Huang, Chairman of Raydium Semiconductor Corporation. "We are confident this investment will continue to create synergies between Raydium and NEUCHIPS."

"We are excited about the rapid growth in the accelerated server market and NEUCHIPS' position to become a leading supplier of AI inference ASICs," said Frank Huang, the Founder of Powerchip Group. "I am optimistic about NEUCHIPS's promising future, and look forward to collaborating with them on new technology such as our new specialty memory and Wafer-on-Wafer(WoW) technology to boost performance per watt and performance per dollar."

"NEUCHIPS' deep learning recommendation ASIC is setting the standard for high performance and low power solutions. We are confident that NEUCHIPS is on the right track to deliver the most energy-efficient and cost-effective AI inference solution to impact the market," said John Lin, Managing Director, Head of Taiwan JAFCO Asia.

Focus on Deep Learning Recommendation (DLRM)

Leading cloud service providers have shared that the overwhelming majority (80%+) of the AI inference cycles in the data center are actually for recommendation models, not vision or language. NEUCHIPS' first product, RecAccel™ N3000, was designed specifically for DLRM and will be ready to sample later this year with easy-to-use software and leading-edge performance. NEUCHIPS will be presenting and participating in OCP Global Summit Oct. 18-20 in San Jose.

About NEUCHIPS Inc.

NEUCHIPS Inc. is an AI ASIC solution provider founded by a team of veteran IC & SW design experts in 2019 who are focused on designing the world's best recommendation systems. Our management and R&D team has decades of experience from leading semiconductor companies and hold patents in signal processing, neural networks, and circuit design.

Wistron, Powerchip Group, Jafco ASIA, Raydium Semiconductor Corporation

Source: NEUCHIPS INC.