Imagination raises $100m for edge AI IP
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Imagination Technologies in the UK has raised $100m from funds managed by affiliates of the Fortress Investment Group.
Fortress has provided Imagination with a $100 million convertible term loan to support the continued development of intellectual property (IP) around graphics, compute and edge AI. Imagination will use the financing to support the development of AI and already has deals with Ventana Micro Systems for its RISC-V IP, having cut 20% of its staff last year.
The semiconductor IP market is expected to reach $11bn by 2026, a 15% annual growth since 2020. By 2030, the total artificial intelligence (AI) semiconductor market is expected to grow to more than $1 trillion, a 32% CAGR from 2025.
Imagination’s IP is present in over 13 billion devices around the globe, in a wide range of industries including automotive, data centre and desktop, mobile, and consumer and IoT.
The recent APXM-6200 RISC-V application processor with artificial intelligence is designed to support the the next generation consumer and industrial devices. It also launched scalable GPU IP with support for DirectX for desktop, laptop and cloud gaming graphics.
“This investment comes with a shared commitment to drive Imagination’s innovation in GPU, CPU and AI, and to help us accelerate growth, drive significant advancements, and deliver unparalleled IP value to customers,” said Ray Bingham, Executive Chair of Imagination Technologies. “We are deeply familiar with Imagination’s team, the company’s extraordinary track record of innovation, and its world-class patent portfolio,” said Eran Zur, Head of Intellectual Property at Fortress.
“Imagination is exceptionally well-positioned to capture a greater share of the growth in technology, including in AI, given the burgeoning demand for ever-more efficient compute solutions across the global economy. We look forward to bringing Fortress’s expertise in intellectual property, technology and growth investing to help Imagination continue expanding its leadership in the industry, develop new capabilities, and maximize the value of its portfolio.”
Founded in 1998, Fortress manages $49.0bn on behalf of approximately 2,000 institutional clients and private investors worldwide.
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