Curated News
By: NewsRamp Editorial Staff
April 16, 2024
Hailo Raises $120M and Introduces Hailo-10 AI Accelerator to Bring GenAI to Edge Devices
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Discuss on SubstackTLDR
- Hailo's new Hailo-10 GenAI accelerators provide a competitive advantage with faster and more energy efficient edge AI processing.
- Hailo-10 leverages a comprehensive software suite used across multiple devices, achieving GenAI performance with minimal power consumption.
- Hailo-10's introduction of GenAI at the edge promotes privacy, sustainability, and personal ownership of AI experiences, enriching lives and empowering users.
- Hailo's innovative technology allows users to directly run GenAI applications on edge devices, enhancing productivity and expanding AI capabilities.
Impact - Why it Matters
The news is significant as it highlights the growing investment and interest in AI chip technology, addressing the global chip shortage and expanding the reach of GenAI applications. Hailo's innovative accelerators will empower users to run GenAI applications locally, without relying on cloud-based services, potentially revolutionizing the way AI is integrated into daily life and impacting various sectors such as automotive, security, and industry 4.0.
Summary
Hailo, a pioneering chipmaker, has successfully extended its series C fundraising round with an additional $120 million investment, bringing its valuation to over $1 billion. The company also introduced its Hailo-10 high-performance GenAI accelerators, enabling users to run GenAI applications locally on edge devices. OurCrowd, an online investment platform, is offering an exclusive allocation for investors to participate in this raise. Hailo's total funding now exceeds $340 million, positioning the company for long-term growth.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Hailo Raises $120M and Introduces Hailo-10 AI Accelerator to Bring GenAI to Edge Devices
