Chip startup Mythic Inc. has raised $125 million in a new round of funding, which will be used to support the company in challenging Nvidia in the lucrative AI processor market. Mythic hired Nvidia veteran Taner Ozcelik as CEO last year, and the funding was led by venture capital firm DCVC, according to a statement on Wednesday. Other investors include SoftBank Group, Honda Motor Company, etc. The company adopted a new approach to processing the vast amount of data needed to run artificial intelligence software. Its technology relies on analog chips, which consume far less power than digital components commonly used as the “brain” of computers. Ozcelik worked at Nvidia for ten years and his career was heavily influenced by Nvidia's co-founder and CEO Wong In-hoon. He said, “We made it clear that our goal is to catch up with Nvidia.”

Chip startup Mythic Inc. has raised $125 million in a new round of funding, which will be used to support the company in challenging Nvidia in the lucrative AI processor market. Mythic hired Nvidia veteran Taner Ozcelik as CEO last year, and the funding was led by venture capital firm DCVC, according to a statement on Wednesday. Other investors include SoftBank Group, Honda Motor Company, etc. The company adopted a new approach to processing the vast amount of data needed to run artificial intelligence software. Its technology relies on analog chips, which consume far less power than digital components commonly used as the “brain” of computers. Ozcelik worked at Nvidia for ten years and his career was heavily influenced by Nvidia's co-founder and CEO Wong In-hoon. He said, “We made it clear that our goal is to catch up with Nvidia.”