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Asia | Politics & Policy | World

FuriosaAI’s 3.8 Trillion Won Valuation: State Funds, No Chip Allies
ByDavid 2026-11-012026-11-03

FuriosaAI’s 820 billion won Series D lifted its valuation to 3.8 trillion won, but nearly half the money came from state and policy funds and no chip giant took a strategic stake. With 2025 revenue of 5.74 billion won, the valuation implies a price-to-sales ratio of about 662 times.

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AI | Asia | Politics & Policy | Tech | World

FuriosaAI Series D: State Funds Drive 3.8 Trillion Won Valuation
ByDavid 2026-11-012026-11-01

FuriosaAI has raised an 820 billion won Series D, including 370 billion won from Korea’s state-led National Growth Fund. We examine the basis for its 3.8 trillion won valuation and the business risks of RNGD mass production, global orders, Nvidia competition and 2nm/HBM4 development.

Read More FuriosaAI Series D: State Funds Drive 3.8 Trillion Won Valuation