Seoul-based FuriosaAI, a South Korean AI chip startup, said on October 29 that it raised US$620 million in series D funding at a US$2.9 billion valuation.

Investors included the US-based Infinitum Partners, South Korea’s National Growth Fund, Jericho Capital, Singapore’s QUDA Capital, Abu Dhabi-based NeoFort Holding, and existing investors Naver and Kakao Investment.

Founded in 2017 and led by CEO June Paik, FuriosaAI began mass production of its RNGD chips in January.

The startup said Taiwan Semiconductor Manufacturing Co. is producing 20,000 RNGD accelerators in 2026, with plans to produce more than 40,000 in 2027. Samsung SDS, LG Group, and South Korean AI startup Upstage use the chips.

FuriosaAI said RNGD outperformed Nvidia’s RTX Pro 6000 in its own efficiency benchmark.

FuriosaAI raised US$125 million in a series C bridge round in July 2025. The startup was reported to have turned down a US$800 million acquisition offer from Meta in March 2025.

The National Growth Fund targets AI, chips, and batteries through a 150 trillion won (US$112 billion) initiative.

🔗 Source: Bloomberg

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