Chip Startup Increases Processing Power of Supercomputers

Julija A. Image
ByJulija A.
June 18,2021

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.

About author

Julia A. is a writer at SmallBizGenius.net. With experience in both finance and marketing industries, she enjoys staying up to date with the current economic affairs and writing opinion pieces on the state of small businesses in America. As an avid reader, she spends most of her time poring over history books, fantasy novels, and old classics. Tech, finance, and marketing are her passions, and she’s a frequent contributor at various small business blogs.

More from news

Walmart is teaming up with Ford Motor and the automaker’s autonomous driving affiliate Argo AI as it expands its self-driving delivery service.
By Julija A. · September 21,2021
Billionaire entrepreneur and venture capitalist Peter Thiel has bankrolled HySpecIQ with more than $20 million.
By Julija A. · September 21,2021
Updated Centers for Disease Control and Prevention guidelines for fully vaccinated people from July 27 have prompted Walmart to revise its policy regarding wearing face coverings in its stores. The largest retailer in the world has again made it mandatory for all of its employees to wear masks in stores, clubs, and distribution centers in areas with substantial or high COVID-19 infection rates and where there are state or local face-covering mandates. In May, the retailer announced that immunized employees were allowed to work without masks. On July 30, this decision was reversed. The move came as US health officials said that even Americans who have been fully vaccinated against the coronavirus should go back to wearing face coverings in indoor public places in counties where the virus is spreading rapidly. Walmart’s memo also indicated that the company’s retail workers would post signage at its stores asking customers to wear masks, practice social distancing, and make payments using their debit or credit cards rather than cash. Furthermore, Walmarts has announced that all of its workers will receive a $150 incentive for getting inoculated against COVID-19. This is double the amount the retailer has previously been offering, and those who have already received $75 will get the rest in their August paychecks. The memo also states it has been made a part of store managers’ job to regularly check the CDC website for potential changes to public health recommendations and mask guidance in their locations. Doug McMillon, the company’s CEO, told corporate staff and managers they must be vaccinated by October 4. “We want to get to a place where we can use our offices and be together safely. It’s important for our business, our culture, our speed, and our innovation,” McMillon said. Publix, another supermarket chain, has also made it mandatory for all employees to wear masks, regardless of their vaccination status. Florida-based retailer The Lakeland is also urging all shoppers to use face coverings, even though they aren’t required to do so in all US counties.
By Julija A. · August 06,2021

Leave your comment

Your email address will not be published.


There are no comments yet