Valued At Over $2.5B, SiFive Is Set To Challenge Arm, And x86 Vendors
SiFive, Inc., today announced it has raised $175 million in a Series F financing round, valuing the RISC-V company at over $2.5 billion. The Series F round was led by Coatue Management. SiFive intends to use the funds to accelerate the development of the company’s RISC-V products, future roadmap, and develop the ecosystem for the open-source Arm challenger. Intel Capital, Sutter Hill, SK Hynix Inc., and Qualcomm Ventures are also investors. The company has now raised over $350M in capital.
As we reported last month, Intel has committed $1B in ecosystem development funds, largely targeting the RISC-V community. Separately, SiFive recently sold its OpenFive custom silicon business unit to Alphawave IP for $210M in cash. So between the two transactions, the startup’s coffers have swelled by $385M, in addition to whatever Intel offers up, and is now more focused on the fundamental technologies needed by RISC-V to compete head-to-head with Arm and x86 across a broad market.
“Intel believes in enabling a multi-ISA strategy, including RISC-V as the open compute base for future platforms,” said Bob Brennan, VP & GM, Customer Solutions Engineering, Intel Foundry Services. “Our IFS investment in RISC-V includes partnering with RISC-V leader SiFive to build the Horse Creek developer platform that will be broadly available in late 2022, based on Intel 4 process technology.” We interviewed Mr. Brennan and Esperanto founder Dave Ditzel on this strategy recently here.
We must note that last week Arm announced it would cut up to 1,000 jobs after the $40b sale to NVIDIA collapse. As we had oft opined, NVIDIA was Arm’s best chance to continue to drive innovation. Now RISC-V and SiFive stand to fill in any vacuum. We believe industry observers and investors should factor in a significant disruption caused by RISC-V.