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Investing.com-- FuriosaAI, a South Korean startup specializing in artificial intelligence chips, rejected a $800 million takeover offer from Meta Platforms Inc (NASDAQ:META), local media reports showed on Monday.
Furiosa informed Meta of its intention to reject the offer recently, with reports showing disagreements between the two over business direction and organizational composition, rather than price.
Furiosa- which was founded by former Samsung (KS:005930) and AMD (NASDAQ:AMD) employees- was also reportedly presenting itself as an alternative to NVIDIA Corporation (NASDAQ:NVDA) in the global AI semiconductor industry, where the latter is by far the largest player.
Reports in February said Meta was in talks to acquire FuriosaAI, as the social media giant seeks to bolster its in-house AI chip capabilities and advance development of its flagship Llama AI models.
Furiosa develops chips aimed specifically at running AI programs faster and more efficiently.