South Korean semiconductor startup FuriosaAI has rejected an $800 million acquisition offer from Facebook owner Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB), choosing to stay independent, according to Bloomberg, citing a person familiar with the talks.
The Seoul-based firm, led by former Samsung and AMD engineer June Paik, develops chips for artificial intelligence and aims to compete with Nvidia and other AI hardware players. Its newest processor, RNGD, is built using Taiwan Semiconductor’s 5-nanometre technology and SK Hynix memory.
The company plans to raise more funding and pursue a future IPO. Meta, which is heavily investing in AI infrastructure, has been in talks since early this year.
Shares in DSC Investment, a major backer of FuriosaAI, dropped more than 15% on Monday after the deal reportedly fell through.