Hailo receives $120 million funding to continue competing against Nvidia amidst struggles faced by other AI chip startups

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The funding climate for AI chip startups, once as sunny as a mid-July day, is beginning to cloud over as Nvidia asserts its dominance. AI chip company Mythic ran out of cash in 2022 and was nearly forced to halt operations, while Graphcore, a once-well-capitalized rival, now faces mounting losses. But one startup appears to have found success in the ultra-competitive — and increasingly crowded — AI chip space. “I co-founded Hailo with the mission to make high-performance AI available at scale outside the realm of data centers,” Danon told TechCrunch. “In recent years, we’ve seen a surge in demand for edge AI applications in most industries ranging from airport security to food packaging,” he said.