SAN FRANCISCO, Feb 19 (Reuters) - Chip startup AheadComputing announced on Wednesday that it had secured $21.5 million in seed funding. The company, co-founded by former Intel central processing unit (CPU) engineers and executives, is focused on developing technology and chips based on the open-source architecture RISC-V, pronounced "risk five."
The funding will be utilized by AheadComputing to design and advance CPU technology aimed at addressing computing performance challenges associated with artificial intelligence, such as bandwidth limitations and data processing constraints.
CEO Debbie Marr highlighted the significance of leveraging RISC-V technology due to its open ecosystem, contrasting it with the limitations of x86 architecture used by Intel and Advanced Micro Devices, as well as the dependency on a single supplier like Arm Holdings.
Marr stated, "The RISC-V ecosystem is open, it's not owned, it's not controlled by one company," emphasizing the flexibility and potential for innovation within the community.
Located in Portland, AheadComputing was established by Marr and other former Intel executives known for their contributions to key CPU performance advancements.
Eclipse Ventures spearheaded the seed funding round with participation from Maverick Capital, Fundomo, and EPIQ Capital Group, while former Apple and Tesla chip architect Jim Keller also made an investment. Keller oversees his RISC-V venture, Tenstorrent.
Greg Reichow, a partner at Eclipse, highlighted the burgeoning demand for high-performance computing, projecting a market size of approximately $100 billion by 2030, citing a promising market trend for AheadComputing.