SiMa.ai, has raised $70 million in an extension funding round as it plans to bring its a chipset for multimodal generative AI processing.

TechCrunch (TC) is a leading technology news and media site that covers the latest trends, startups, and innovations in the tech industry. With breaking news,  analysis, and expert commentary, TechCrunch provides  insights into the world of technology and entrepreneurship. Developers can learn about emerging technologies, funding opportunities, and market trends by following TechCrunch's coverage of the tech industry.

TechCrunch

SiMa.ai secures $70M funding to introduce a multimodal GenAI chip. SiMa.ai plans to bring its second-generation chipset, specifically built for multimodal generative AI processing, to market. The market for AI-supporting chips globally is forecast to more than double by 2027 to $119.4 billion. SiMa.ai's competitors include NXP, Texas Instruments, STMicro, Renaissance, Microchip Technology, and Nvidia.