FuriosaAI Turns Down Meta's $800M Bid To Go Rogue With RNGD, As AI Chip War Between Nvidia, Google, And Meta Heats Up
Benzinga (Fri, 11-Apr 7:02 PM)
South Korean AI hardware startup FuriosaAI has made waves in the global semiconductor industry after reportedly turning down an $800 million acquisition offer from Meta (NASDAQ:META).
The decision shows the startup's ambition to remain independent and compete directly in the rapidly evolving AI chip market dominated by NVIDIA (NASDAQ:NVDA) and increasingly encroached on by tech giants like Alphabet (NASDAQ:GOOGL, GOOG)) and Microsoft (NASDAQ:MSFT).
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Meta's $800 Million Power Play Rejected
Meta initially called FuriosaAI after months of evaluating potential acquisition targets earlier this year. While Meta’s offer was around $300 million more than FuriosaAI's estimated market value, negotiations collapsed over differences of opinion about the company's future direction and post-acquisition structure, according to a report by Maeil Business Newspaper.
“Since October of last year, Meta had been looking at several AI semiconductor companies in the U.S. and Israel, and finally made FuriosaAI a viable acquisition target and negotiated it since the beginning of the year," ...
