FuriosaAI secures $620 million for AI chip production and its next processor

FuriosaAI now has $620 million to turn its production foothold into a larger AI chip business while developing its next processor. The Seoul-based company announced the Series D on October 28, 2026, at a $2.9 billion post-money valuation. It says the capital will fund more chip production, global deployments, software development and a third-generation accelerator.

The production ramp came first

Furiosa says its second-generation RNGD accelerator entered mass production in January 2026. The chip is built specifically for inference—the work of running a trained AI model to produce an answer. The company plans to produce 20,000 cards in 2026 and says it has secured memory and chip-fabrication capacity to more than double output in 2027.

Samsung SDS has launched a service offering access to RNGD computing, while LG Group companies are deploying the hardware in on-premises hybrid cloud environments, according to Furiosa.

RNGD comes as a 180-watt, air-cooled card. Eight cards make up Furiosa’s NXT RNGD Server, a 3-kilowatt system designed to fit existing enterprise racks without a cooling retrofit. Furiosa claims RNGD matches RTX PRO 6000 throughput at the same card count while serving twice as many users per kilowatt.

We look for the moment a technology company moves from proving its technology to proving its business. FuriosaAI is at that point now, with its chip in volume production and in deployment with customers.

Yong Jung Park, General Partner, NAVER Ventures

A national fund anchors the financing

South Korea’s National Growth Fund was the round’s largest investor, putting in about $280 million, according to the company’s financing release. The release links that investment to the country’s efforts to expand AI computing infrastructure and strengthen its semiconductor ecosystem.

International investors supplied $110 million, Bloomberg reported. Participants included Infinitum, Cisco Investments, Jericho Capital, QUDA Capital, NeoFort Holding and Worldline Capital. All three original seed investors—NAVER, DSC Investment and KDB Capital—also returned, with NAVER participating through NAVER Ventures.

The next chip shares the budget

Beyond the current production ramp, Furiosa is developing its third-generation accelerator with Broadcom and other partners. It says the next chip will retain its Tensor Contraction Processor architecture. The planned design includes:

• A 2-nanometer manufacturing process and a multi-die design, using multiple pieces of silicon.
• HBM4/4E high-bandwidth memory.
• Support for frontier agentic models running in large computing clusters.

Software is another destination for the proceeds. Furiosa says it has shipped four major software development kit releases this year. It also says customers can deploy through PyTorch as they would on GPUs, while developers seeking finer control can write their own low-level routines.