Mythic Stock

Mythic, an AI chip startup that last November reportedly ran out of capital, rose from the ashes today with an unexpected injection of fresh funds. Mythic this morning announced that it closed a $13 million financing round led by existing investors Atreides Management, DCVC and Lux Capital alongside new investors Catapult Ventures and Hermann Hauser Investment.

There is a growing trend toward using larger neural networks in machine learning and artificial intelligence applications. This trend is driven by the need to improve performance on increasingly complex tasks and the availability of more data, hardware, and algorithms to support the training of larger networks.

Several companies, from IBM to RAIN Neuromorphic, see the potential, but Mythic is first to market.