FuriosaAI Raises $620 Million to Expand AI Chip Production

FuriosaAI announced Oct. 28 it raised $620 million in a Series D, putting its post-money valuation at $2.9 billion. The South Korean chipmaker plans to use the proceeds to expand production of its RNGD inference accelerator and advance a third-generation processor with Broadcom.

The National Growth Fund was the largest investor, contributing $280 million. International investors put in $110 million, while existing shareholders added $125 million.

RNGD is FuriosaAI's second-generation accelerator for inference, the computing stage when a trained AI model processes new inputs. Its air-cooled accelerator card is rated at 180 watts, and mass production began in January 2026.

FuriosaAI's Tensor Contraction Processor architecture uses tensor contraction as its central computing operation. The company says the approach is intended to reduce data movement.

FuriosaAI lists Samsung SDS, LG Group and Upstage among RNGD customers. Samsung SDS has launched an NPU-as-a-service offering powered by the chip, while Upstage uses it for live search summaries.

The company's roadmap calls for a 2-nanometer, multi-die design using HBM4/4E memory in the third-generation chip. FuriosaAI co-founder and CEO June Paik said, “We are entering a new phase of bringing our technology to the global AI infrastructure market at scale.”

The financing comes amid other AI investment, including more than $2 billion raised across three AI startups working in chips, computing and legal software.

FuriosaAI targets 20,000 RNGD accelerators in 2026 and more than 40,000 in 2027, setting its next production milestones.