FuriosaAI Raises $620M Series D at $2.9B Valuation to Scale AI Chips
Seoul-based AI chipmaker FuriosaAI has closed a $620 million Series D at a $2.9 billion valuation, led by Korea's National Growth Fund.
South Korean AI chip startup FuriosaAI has completed a $620 million Series D funding round at a post-money valuation of $2.9 billion. The company announced the close on 28 October 2026.
Korea’s National Growth Fund takes the lead
The National Growth Fund of Korea contributed $280 million, making it the biggest investor in the round. International investors put in about $110 million combined, including Infinitum, Jericho Capital, QUDA Capital, Cisco Investments, NeoFort Holding and Worldline Capital.
Several existing backers returned, among them Naver, DSC Investment, Korea Development Bank, Nextrans and Kakao Investment, alongside Korean financial institutions and other current shareholders.
Built for AI inference
Founded in 2017 and headquartered in Seoul, FuriosaAI designs processors for AI inference, the stage at which trained models answer queries and generate output. As AI services move from training into wide commercial use, inference has become one of the fastest-growing parts of the data centre chip market.
The company’s second-generation chip, RNGD, is sold as a 180-watt accelerator card and in multi-card server configurations. RNGD entered mass production in January 2026, and FuriosaAI expects to produce about 20,000 cards this year. It says it has secured manufacturing capacity to more than double output in 2027.
Next-generation chip with Broadcom
FuriosaAI is developing a third-generation accelerator with Broadcom and has lined up deployments with Samsung SDS and LG Group, giving it a foothold with two of Korea’s largest technology buyers.
Key facts: FuriosaAI funding
- Round: Series D, $620 million
- Valuation: $2.9 billion post-money
- Largest investor: National Growth Fund of Korea ($280 million)
- Headquarters: Seoul, South Korea (founded 2017)
- Product: RNGD AI inference accelerator, in mass production since January 2026
Why it matters
The round reflects Seoul’s push to build domestic champions across the AI hardware stack, beyond memory makers such as Samsung Electronics and SK Hynix. With state-backed capital, strategic tech investors and global funds on its cap table, FuriosaAI is positioning itself as Korea’s leading challenger in the AI accelerator market.
Photo: Brecht Corbeel / Unsplash
