Sequoia-backed chip startup Nuvacore plans to launch a new funding round at a $2.5 billion valuation.

PANews October 10 news, according to Reuters, chip startup Nuvacore, backed by Sequoia Capital, is planning to raise hundreds of millions of dollars in funding at a valuation of about $2.5 billion.

The company was founded by former Apple executive Gerard Williams and other well-known engineers. It previously secured a seed round led by Sequoia Capital and has not yet released any products at this stage. According to the plan, Nuvacore will use the new round of funding to develop a new type of CPU designed specifically for data centers. Against the backdrop of rising computing power demand for AI applications, the data center CPU track is attracting increasing attention from investors.