Artificial intelligence chip startup Kneron Inc. is aiming to raise $300 million in a funding round, potentially increasing its valuation to around $1 billion.
The Taiwanese-American company plans to use the funds for product innovation and expansion, including the establishment of a regional office in Saudi Arabia. Kneron also intends to develop a research and development lab in the region as part of its growth strategy.
Discussions regarding the funding round are ongoing, with details coming from sources familiar with the negotiations.