Latest news with #JunePaik
United News of India
6 days ago
- Business
- United News of India
LG shakes hands with FuriosaAI for an enterprise-grade launch
New Delhi, July 24 (UNI) FuriosaAI Inc., a South Korean Semiconductor startup with specialization in the development of AI inference chips, has partnered with LG Corporation (a South Korean conglomerate) for an ambitious launch of an enterprise-grade solution. LG Corp's large language model (LLM) Exaone (developed by LG's AI research division) fully acquired the second-generation AI inference model Renegade of FuriosaAI. Now, both companies plan to launch an enterprise-grade solution. This deal highlights that LG will integrate RNGD chips into Exaone servers. RNGD chips refer to a new line of AI inference chips developed by FuriosaAI. These chips are specially designed to deal with high-performing data centers with a focus on deep learning inference. June Paik (chief executive officer of FuriosaAI) termed this partnership as a 'watershed moment.' Paik also pointed out the efforts they put into this project over the previous eight years. He emphasized that now the product is ready for enterprise adoption. Analysts pointed out that LG's embrace of 'Renegade' is again showing a boom in the realm of major AI investments. It also showed the popularity of LLM (large language models) in handling complex technological processes with ease. UNI SAS PRS
Business Insider
7 days ago
- Business
- Business Insider
FuriosaAI Takes Its First Step to Challenge Nvidia's (NVDA) AI Chip Dominance
Artificial intelligence (AI) chip startup FuriosaAI wants to challenge Nvidia's (NVDA) domination of the market, and it just signed its first major deal. The company reached an agreement with LG AI Research for its AI chip, RNGD. This came after seven months of testing to determine the performance and efficiency of the chips. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. FuriosaAI may be new to the AI chip sector, but it has leadership with deep experience in the field. Founder and CEO June Paik previously worked at Samsung (SSNLF) and Advanced Micro Devices (AMD) before leaving to establish FuriosaAI in 2017. He believes the latest deal with LG AI Research 'signals that our product is ready for enterprise adoption.' Can FuriosaAI Compete in the AI Chip Sector? FuriosaAI is entering an already saturated market, meaning it has an uphill battle ahead of it. The company has to compete with Nvidia, which dominates the field of AI chips and servers with its graphics processing units (GPUs). Other strong competitors in the field include AMD, Broadcom (AVGO), Arm (ARM), Marvell Technology (MRVL), and Super Micro Computer (SMCI). There are also rival startups trying to enter the space, such as Rebellions and Semifive, adding even more competition to the market. What Is the Best AI Stock to Invest In? The easy answer to this question is Nvidia, largely thanks to its strong grip on the AI chips sector. NVDA stock sports a consensus Strong Buy rating and a possible 8.76% upside. However, Broadcom and Marvell Technology also have Strong Buy ratings and significant upside potential. Getting to AMD, ARM, and SMCI, each of these AI stocks have consensus Moderate Buy ratings. AMD and Super Micro Computer have price targets that suggest downsides, while Arm has a potential 3.5% upside.
Time of India
22-07-2025
- Business
- Time of India
Nvidia chip challenger FuriosaAI scores LG as first major customer
FuriosaAI Inc., the Seoul-based startup seeking to design chips to compete with Nvidia Corp., has sealed its first major contract months after rejecting an $800 million acquisition offer from Meta Platforms Inc. The startup won final approval for its AI chip RNGD (pronounced 'Renegade') from LG AI Research after seven months of rigorous evaluation spanning performance and efficiency. The larger Korean company will use the chip to power its Exaone large-language models, FuriosaAI Chief Executive Officer June Paik told Bloomberg News. LG's approval is a validation for FuriosaAI, one of a handful of Korean chip designers hoping to ride a post-ChatGPT boom in AI infrastructure . The RNGD chip was designed to challenge not just industry leader Nvidia but also fellow startups Groq Inc., SambaNova Systems Inc. and Cerebras Systems Inc. 'For the last eight years, we worked very hard from R&D to product phases and finally this commercialisation phase,' Paik said. 'This signals that our product is ready for enterprise adoption.' Founded in 2017 by Paik, who previously worked at Samsung Electronics Co. and Advanced Micro Devices Inc., FuriosaAI develops semiconductors for AI inferencing or services. It claims to deliver 2.25 times better inference performance per watt compared to graphics processing units. Like Korean peers Rebellions Inc. and Semifive Inc., FuriosaAI is trying to tap a giant semiconductor ecosystem of talent, suppliers and government incentives that've sprung up around Samsung and SK Hynix Inc. over the past decade. As part of their partnership, FuriosaAI and LG intend to deploy RNGD servers using Exaone across a range of industries from electronics to finance. They will also power LG's in-house enterprise AI agent, ChatExaone, which the company plans to expand to external clients. FuriosaAI is working to secure its next customers in the US, the Middle East and Southeast Asia. It expects to reach similar agreements in the second half of this year, Paik said. FuriosaAI attracted public attention when news emerged in March that it had rejected Meta's advances, opting for independence. It plans to raise capital before eventually pursuing an initial public offering, according to people familiar with the matter.
Economic Times
22-07-2025
- Business
- Economic Times
Nvidia chip challenger FuriosaAI scores first major customer LG
FuriosaAI Inc., the Seoul-based startup seeking to design chips to compete with Nvidia Corp., has sealed its first major contract months after rejecting an $800 million acquisition offer from Meta Platforms Inc. The startup won final approval for its AI chip RNGD (pronounced 'Renegade') from LG AI Research after seven months of rigorous evaluation spanning performance and efficiency. The larger Korean company will use the chip to power its Exaone large-language models, FuriosaAI Chief Executive Officer June Paik told Bloomberg News. LG's approval is a validation for FuriosaAI, one of a handful of Korean chip designers hoping to ride a post-ChatGPT boom in AI infrastructure. The RNGD chip was designed to challenge not just industry leader Nvidia but also fellow startups Groq Inc., SambaNova Systems Inc. and Cerebras Systems Inc. 'For the last eight years, we worked very hard from R&D to product phases and finally this commercialisation phase,' Paik said. 'This signals that our product is ready for enterprise adoption.'Founded in 2017 by Paik, who previously worked at Samsung Electronics Co. and Advanced Micro Devices Inc., FuriosaAI develops semiconductors for AI inferencing or services. It claims to deliver 2.25 times better inference performance per watt compared to graphics processing units. Like Korean peers Rebellions Inc. and Semifive Inc., FuriosaAI is trying to tap a giant semiconductor ecosystem of talent, suppliers and government incentives that've sprung up around Samsung and SK Hynix Inc. over the past part of their partnership, FuriosaAI and LG intend to deploy RNGD servers using Exaone across a range of industries from electronics to finance. They will also power LG's in-house enterprise AI agent, ChatExaone, which the company plans to expand to external clients. FuriosaAI is working to secure its next customers in the US, the Middle East and Southeast Asia. It expects to reach similar agreements in the second half of this year, Paik said. FuriosaAI attracted public attention when news emerged in March that it had rejected Meta's advances, opting for independence. It plans to raise capital before eventually pursuing an initial public offering, according to people familiar with the matter.
Straits Times
22-07-2025
- Business
- Straits Times
Nvidia's AI chip challenger FuriosaAI scores first major customer, LG
Find out what's new on ST website and app. The South Korean start-up won final approval for its AI chip RNGD (pronounced 'Renegade') from LG AI Research. – FuriosaAI, the Seoul-based start-up seeking to design chips to compete with industry leader Nvidia, has sealed its first major contract months after rejecting an US$800 million ($1.02 billion) acquisition offer from Meta Platforms. The start-up won final approval for its artificial intelligence chip RNGD (pronounced 'Renegade') from LG AI Research after seven months of rigorous evaluation spanning performance and efficiency. LG will use the chip to power its Exaone large-language models, FuriosaAI chief executive June Paik told Bloomberg News. LG's approval is a validation for FuriosaAI, one of a handful of South Korean chip designers hoping to ride a post-ChatGPT boom in AI infrastructure. The RNGD chip was designed to challenge not just Nvidia but also fellow start-ups Groq, SambaNova Systems and Cerebras Systems. 'For the last eight years, we worked very hard from research and development to product phases and finally this commercialisation phase,' Mr Paik said. 'This signals that our product is ready for enterprise adoption.' Founded in 2017 by Mr Paik, who previously worked at Samsung Electronics and Advanced Micro Devices, FuriosaAI develops semiconductors for AI inferencing or services. It claims to deliver 2.25 times better inference performance per watt compared to graphics processing units. Top stories Swipe. Select. Stay informed. Singapore S'poreans aged 21 to 59 can claim $600 SG60 vouchers from July 22 Singapore Miscalculated grants: Overpayments amounted to $7m for most people, a shortage of $2m to others, says MOH Singapore Changi Airport handles 17.5 million passengers in Q2 2025 Singapore 2 charged over alleged involvement in posting of bail for man who subsequently absconded Singapore Teen charged after allegedly selling vaporisers, advertising e-cigarettes on WhatsApp Life Having a workout partner could be the secret to sticking to your fitness goals Singapore 2,500 turtles seized in India and sent back to S'pore, put down humanely after salmonella detected Singapore Ports and planes: The 2 Singapore firms helping to keep the world moving Like Korean peers Rebellions and Semifive, FuriosaAI is trying to tap a giant semiconductor ecosystem of talent, suppliers and government incentives that have sprung up around Samsung and SK Hynix over the past decade. As part of their partnership, FuriosaAI and LG intend to deploy RNGD servers using Exaone across a range of industries from electronics to finance. They will also power LG's in-house enterprise AI agent, ChatExaone, which the company plans to expand to external clients. FuriosaAI is working to secure its next customers in the United States, the Middle East and South-east Asia. It expects to reach similar agreements in the second half of 2025, Paik said. FuriosaAI attracted public attention when news emerged in March that it had rejected Meta's advances, opting for independence. It plans to raise capital before eventually pursuing an initial public offering, according to people familiar with the matter. BLOOMBERG
