Cognichip raises $60M for AI chip design

Cognichip has secured $60 million in new funding to develop AI models that design computer chips, aiming to significantly reduce the cost and time involved in semiconductor development. The company's approach uses deep learning to assist engineers, tackling the decades-old challenges of complexity, expense, and lengthy timelines in chip creation. Cognichip's technology promises to cut development costs by over 75% and halve the time to market, a crucial advantage in the rapidly evolving tech landscape. This funding, led by Seligman Ventures, brings Cognichip's total raised to $93 million, underscoring strong investor confidence in AI's role in hardware innovation.