FuriosaAI Rejects Meta's Offer, Plans IPO

South Korean AI chip startup FuriosaAI has rejected an $800 million acquisition offer from Meta Platforms, choosing to remain independent due to disagreements over business direction and organizational structure. The company, founded by former Samsung and AMD employee June Paik, aims to challenge industry giant NVIDIA by developing specialized AI chips. FuriosaAI is in the process of raising approximately $48 million and plans to pursue an initial public offering. Meta, seeking to enhance its AI capabilities, has been working to reduce its dependency on NVIDIA by developing its own AI chips. Despite the failed acquisition, FuriosaAI continues to grow, with plans to expand its workforce and customer base, which includes LG AI Research and Saudi Aramco.