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Blaize to debut on Nasdaq in 2025

Blaize to debut on Nasdaq in 2025

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Blaize, a pioneering AI chip startup, is set to make history as the first of its kind to go public in 2025. The company, founded by former Intel engineers, announced on Monday that it will be listed on the Nasdaq through a SPAC deal on Tuesday. Since its launch in 2011, Blaize has raised an impressive $335 million from investors such as Samsung and Mercedes-Benz.

The company, based in El Dorado Hills, California, specializes in manufacturing AI chips for edge applications, which are integrated into smart products like security cameras, drones, and industrial robots. CEO Dinakar Munagala, who spent nearly 12 years at Intel, emphasized the importance of AI-powered edge computing, stating, “AI-powered edge computing is the future due to its low power consumption, low latency, cost-effectiveness, and data privacy advantages.”

Despite being a small player in the vast AI chip industry and currently unprofitable, with losses of $87.5 million on revenue of just $3.8 million in 2023, Blaize requires substantial capital to expand its manufacturing capabilities.

Blaize targets practical AI applications

The company is also highlighting $400 million in potential deals, including a signed purchase order of up to $104 million with an unnamed defense entity in the EMEA region. Following its SPAC merger, Blaize is expected to have a valuation of $1.2 billion, which is lower than that of other AI chipmakers like Cerebras. However, unlike Cerebras, which focuses on data center chips, Blaize aims to integrate AI chips into physical products.

Munagala emphasized the importance of this approach, saying, “All of the AI hype is happening in the data center. Interestingly, they’ve totally neglected and forgotten about real physical world use cases that are very real, that are touching people’s lives and are happening now and making money. We’re focused on the practical use of AI in the physical world.”

Blaize’s decision to go public is a strategic move that reflects its belief in the future of AI-powered edge computing and its potential to revolutionize various industries.



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