The first round of AI chip startups is hitting a snag as Meta and others embrace Nvidia

Mythic, SambaNova Systems, Graphcore, and others all raised hundreds of millions of dollars in capital at multi-billion dollar valuations. The reality of trying to beat Nvidia is setting in.

midjourney

Starting in around 2016, a handful of startups emerged in an “AI computing” space that were looking to rewrite the substrate for machine learning operations—both training and inference.

Nvidia, at the same time, was scooping up the industry because GPUs were well-suited to machine learning operations, though there were some obvious limitations.…