Blaize, an AI chip startup started by ex-Intel engineers, is gearing up to go public on Nasdaq through a SPAC deal this Tuesday, as reported by TechCrunch.
Founded in 2011 and based in El Dorado Hills, California, Blaize focuses on AI chips designed for edge applications like drones, robots, and smart cameras. The company has garnered support from investors including Samsung and Mercedes-Benz, raising a total of $335 million.
Even though it reported a loss of $87.5 million in 2023 on just $3.8 million in revenue, Blaize is highlighting $400 million in deals, which includes a significant $104 million defense contract in EMEA aimed at developing systems that can detect drones and identify troops. CEO Dinakar Munagala believes that edge computing is the way forward because it offers advantages in cost, latency, and privacy. While Nvidia is concentrating on data centers, Blaize is putting its energy into practical AI solutions that address real-world needs that often get overlooked.
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