AIStorm raises $16 million for low-powered AI edge computing chips
AIStorm, an AI startup developing chipsets that can directly process data from devices, has raised $16 million. The company says the funding will enable it to scale manufacturing to deploy its hardware for devices like handsets, notebooks, smart speakers, remote controls, TVs, earbuds, IoT, and wearables and for transport applications.
Edge computing is forecast to be a $6.72 billion market by 2022. Its growth will coincide with that of the deep learning chipset market, which some analysts predict will reach $66.3 billion by 2025. There’s a reason for these rosy projections — edge computing is expected to make up roughly three-quarters of the total global AI chipset business in the next six years.