Summary:
Cathay Venture joins €130M Series A in French AI chip startup SiPearl, marking its first European AI investment
SiPearl's Rhea1 chip, produced by TSMC, is hailed as Europe's most complex processor, targeting supercomputers
Strategic emphasis on Taiwan's semiconductor industry to strengthen Europe's global chip ecosystem position
Cathay Venture's portfolio leans heavily on semiconductor and electronics, including Rivos and KKDay
Rhea1 to debut in Germany's Jupiter supercomputer, advancing research in engineering and dark matter
Cathay Venture, the investment arm of Taiwan billionaire Tsai Hong-tu’s Cathay Financial Holdings, has made a significant leap into Europe's AI sector by joining a €130 million ($152 million) Series A funding round for French AI chip startup SiPearl. This marks Cathay Venture's first foray into the European AI hub, spotlighting France's growing influence in the semiconductor industry.
Key Investors and SiPearl's Ambitions
Among the notable investors are SoftBank-owned Arm, the European Innovation Council Fund, French Tech Souveraineté, and Atos. SiPearl plans to channel these funds into producing its groundbreaking Rhea1 chip, touted as "the most complex processor ever designed in Europe." This Arm-based CPU is tailored for supercomputers and inference tasks, with manufacturing entrusted to TSMC and sampling expected early next year.
Strategic Partnerships and Global Reach
SiPearl's Rhea1 chip is set to power the Jupiter supercomputer in Germany, aiding in fields like engineering, materials science, and dark matter research. CEO Philippe Notton emphasizes the importance of Taiwan's semiconductor prowess, highlighting a strategic alliance to bolster Europe's position in the global semiconductor ecosystem.
Cathay Venture's Semiconductor Focus
With over a quarter of its portfolio in semiconductor and electronics, Cathay Venture's investment underscores its commitment to addressing datacenters' computing power and energy efficiency challenges. Other portfolio highlights include Rivos, co-founded by Intel CEO Lip-Bu Tan, and Asian startups like KKDay and OneDegree.
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