OXMIQ, founded by former Intel executive Raja Koduri, has secured $35 million in funding to develop licensable AI chip architecture. The capital raise aims to support the company’s efforts in building sovereign AI chip designs, responding to growing demand for domestic AI hardware solutions, according to economictimes.indiatimes.com.
The funding round was completed recently, with OXMIQ focusing on creating AI chip architectures that can be licensed to other companies. Raja Koduri, known for his previous leadership roles at Intel, is steering the startup to address the increasing need for independent AI hardware capabilities, as global supply chains face challenges and geopolitical tensions rise.
This funding round positions OXMIQ among emerging players in the AI semiconductor space, where companies are racing to develop specialized chips for artificial intelligence workloads. The move aligns with broader industry trends emphasizing sovereign technology development, similar to initiatives seen in other regions aiming to reduce reliance on foreign chipmakers.
OXMIQ’s $35 million raise will enable the company to accelerate its chip architecture development and licensing efforts. The company’s progress will be closely watched as it competes in the expanding AI hardware market, which is expected to see significant growth driven by demand for AI applications across sectors.