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Leading Manufacturer of AI Processors Hailo Secures $120M in the Growing Trend of AI

Israel-based semiconductor company Hailo has secured $120 million in a fresh funding round, reaching a valuation of $1.2 billion, the company announced on Tuesday. Alongside the funding, Hailo unveiled its latest innovation: a high-performance generative AI chip.

The fundraising effort was spearheaded by both existing and new investors, including the Zisapel family, Comasco (a construction tools provider), and OurCrowd (an online venture investing platform), among others. With this latest round, Hailo’s total investment since its inception in 2017 surpasses $340 million.

“We intend to leverage the new capital to accelerate our growth and expedite the execution of our roadmap. With this trajectory and subject to favorable market conditions, our aspiration is to transition into a publicly traded company,” stated Hailo CEO and Co-Founder Orr Danon in remarks to Reuters, refraining from specifying a timeline.

The momentum behind AI startups has surged following the emergence of OpenAI’s ChatGPT, as investors wager on the potential advantages stemming from the widespread adoption of AI technology, poised to disrupt industry incumbents and propel innovation forward.

Counting more than 300 clients globally, including prominent names like Schneider Electric, Dell Technologies, and ABB, Hailo offers a range of products, including AI accelerators and AI software suite.

Introducing the Hailo-10 high-performance generative AI accelerator, Hailo enables users to execute GenAI applications locally, eliminating the need for reliance on cloud-based GenAI services. Samples of the Hailo-10 chip will commence shipping in the second quarter of this year.

Orr Danon emphasized the versatility of the Hailo-10, stating, “Whether users are utilizing GenAI for real-time translation, software code generation, or creating images and videos from text prompts, Hailo-10 empowers them to do so directly on their PCs or other edge systems, without burdening the CPU.”

Initially, the Hailo-10 will target personal computers and automotive infotainment systems, bolstering the processing capabilities of central processing units (CPUs), according to Hailo’s disclosures.

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