SiMa.ai secures $70M funding to introduce a multimodal GenAI chip

SiMa.ai secures $70M funding to introduce a multimodal GenAI chip. SiMa.ai plans to bring its second-generation chipset, specifically built for multimodal generative AI processing, to market. The market for AI-supporting chips globally is forecast to more than double by 2027 to $119.4 billion. SiMa.ai's competitors include NXP, Texas Instruments, STMicro, Renaissance, Microchip Technology, and Nvidia.