Chip Startup Increases Processing Power of Supercomputers
NextSilicon, an Israeli computer chip startup, recently unveiled a solution for boosting the processing power of semiconductors in supercomputers. Despite the company’s revolutionary accomplishments and the fact that it is valued at approximately $1.5 billion, the startup is still relatively unknown in wider tech circles.
Recently, NextSilicon completed its third funding round, which raised $120 million. Its principal investor was Third Point Ventures, an investment firm that focuses on enterprise, healthcare, fintech companies, and mobile advancement. In total, the three funding rounds provided NextSilicon with over $200 million, which is enough to enable the company to operate and grow over the next five years.
NextSilicon was founded in 2018 by Elad Raz, who sold his previous startup called Integrity-Project to Mellanox in 2014 for $10 million. The company employs 150 people in offices based in Tel Aviv, Jerusalem, Yokneam, and Be’er Sheva, and it’s currently looking to expand its team by recruiting hardware and software engineers.
“NextSilicon is a unique company in the semiconductor startup industry. Its technology leverages software algorithms as the main driver to speed up compute-intensive applications,” said Raz, NextSilicon’s Chief Executive Officer.
The promising startup works with some of the world’s top supercomputer computing centers on scientific projects that involve discovering new vaccines, providing early indicators of forest fires and storms, studying DNA sequencing, and more.
The fact that the world is currently in the middle of a computer chip shortage makes NextSilicon’s solution even more relevant. Namely, all types of electronics, from smartphones to refrigerators, require this small piece of technology to run.
According to the latest statistics, the chip shortage will most likely continue into 2022 and maybe even as late as 2023. The primary culprit is the outbreak of the COVID-19 pandemic, which caused the demand for electronic devices to skyrocket worldwide. People started ordering unprecedented amounts of hardware such as laptops and printers for their businesses, which now had to adapt to the new remote working conditions.