Listen to this article
Advanced Micro Devices (AMD) and Korean telecommunications company KT have invested in AI software developer Moreh, raising $22 million in a Series B round. Moreh’s flagship software, MoAI, offers compatibility with major machine learning frameworks and addresses the need for scalable AI infrastructure. The startup, which began generating revenue in 2021, aims for a revenue of $30 million by the end of 2023.
Moreh’s AI Software Development
Advanced Micro Devices (AMD) and Korean telecommunications company KT have invested in Moreh, an AI software development company that specializes in creating tools for optimizing and generating AI models. With this recent funding, the Santa Clara- and Seoul-based startup has successfully raised a $22 million Series B round, bringing their total funding to $30 million.
Comparison with Nvidia’s CUDA
Moreh’s flagship AI software, MoAI, is comparable to Nvidia’s CUDA. However, what sets it apart is its compatibility with existing machine learning frameworks such as Meta’s PyTorch and Google’s TensorFlow. This software also supports applications and AI models that were previously exclusive to Nvidia.
Addressing the AI Infrastructure Challenge
The startup identifies a gap in the current AI software market. While existing software is suitable for small-scale AI models using limited GPUs, they don’t cater to larger AI infrastructures. As AI matures at the enterprise level, many companies find their IT infrastructure and data architectures ill-equipped for training AI models. Moreh’s solutions offer flexibility in AI infrastructure, especially crucial given the global GPU shortage.
Benefits of Moreh’s AI Solutions
Gangwon Jo, co-founder and CEO of Moreh, emphasized the advantages of their AI software. It enables GPUs and other AI chips, like neural processing units (NPUs), to run AI models, including large language models (LLMs) like GPT-3 and T5, without necessitating any code modifications.
Collaboration with KT and AMD’s GPUs
KT has been collaborating with Moreh since 2021 to develop a scalable AI infrastructure powered by AMD GPUs and MoAI software. This partnership has demonstrated the efficacy of Moreh’s technology, with its performance in developing LLM and other AI models surpassing Nvidia’s DGX in terms of speed and GPU memory capacity.
Future Plans and Revenue Goals
Having started generating revenue in 2021, Moreh aims to achieve approximately $30 million by the end of 2023. The recent funding will be allocated towards research and development, product expansion, and hiring. South Korean VC firms Smilegate Investment and Forest Partners, existing investors of Moreh, also participated in this Series B round.
Please email us your feedback and news tips at hello(at)dailycompanynews.com
