---
title: "SiMa.ai secures $70M funding to introduce a multimodal GenAI chip"
url: https://daily.dev/posts/sima-ai-secures-70m-funding-to-introduce-a-multimodal-genai-chip-wgo19gjfs
source_url: https://techcrunch.com/2024/04/04/sima-ai-70m-funding-multimodal-genai-chip/
type: article
source: "TechCrunch"
published: 2024-04-04T12:06:01.088Z
updated: 2024-05-09T09:21:59.549Z
tags: ["ai", "venture-capital", "multimodal", "edge-ai"]
reading_time: 4
upvotes: 1
comments: 0
language: en
---

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

**[TechCrunch](https://daily.dev/sources/tc)** · 4 min read · 1 upvotes · 0 comments

## Summary

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.

## Full article

daily.dev links to this article rather than hosting it. Read it at the original source: <https://techcrunch.com/2024/04/04/sima-ai-70m-funding-multimodal-genai-chip/>

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---

Tags: [#ai](https://daily.dev/tags/ai), [#venture-capital](https://daily.dev/tags/venture-capital), [#multimodal](https://daily.dev/tags/multimodal), [#edge-ai](https://daily.dev/tags/edge-ai)

[View this post on daily.dev](https://daily.dev/posts/sima-ai-secures-70m-funding-to-introduce-a-multimodal-genai-chip-wgo19gjfs)