You know what’s great? Becoming a Unicorn in two years. You know what’s better? Get out of the Unicorn position in two years
This morning, Qualcomm announced that it was buying high-performance computing startup NUVIA for $ 1.4 billion, minus some coverage of working capital and debt.
Startup, which we Its launch was massively hyped after raising $ 53 million in a Series A In late 2019 and then a few months ago when It raised $ 240 million in its Series B from Mithila, Was the brainchild of many Apple chip engineers who worked on computing the company’s vast array of chips that powered iPhones and iPads.
Much like how Apple’s new M series laptops are for computers (so far) Dazzled by an almost revolutionary mix of energy efficiency and performance, The founder of NUVIA was looking forward to using his experience in managing the electrical envelope while exiting high performance and bringing it to the data center. Given the massive scale of power required by data centers to function, which is only going with the demand for AI applications in the cloud, the hope was that NUVIA could eat and even eat it: cutting power and saving While offering high performance costs for cloud computing.
According to Qualcomm’s press release, NUVIA’s technology will be incorporated into the company’s line of chips, led by its 5G-centric Snapdragon chip. The company’s founders and employees are expected to join, and the deal must be approved by US regulators.
NUVIA was one of the most compelling companies in the new crop of next-generation silicon startups, but it was also placed in a legal battle between one of its founders and former Apple engineer Gerald Williams III and his former employer. Apple filed a civil lawsuit against Williams in 2019, arguing that it attempted to recruit its former partners to join NUVIA in violation of its contractual obligations with Apple. Williams fought back through his own motions, and the two sought to hand over some documents to each other after a legal search, with Apple and Williams having the latest update last month, as the case has moved forward.
We don’t know if the timing of that lawsuit played into the company’s quick exit, or that Qualcomm’s deep-rooted relationship with Apple as a supplier could help the parties reach a quick resolution. We reached out to a NUVIA spokesperson for comment.
While the lawsuit was a cloud over the company, the end result is about $ 1.4 million embarrassed by a venture capitalization of $ 300 million over nearly two years. Mithril may not have been too thrilled early on, but earlier investors such as Capricorn Investment Group, Dell Technologies Capital (DTC), Mayfield, and WRVI Capital are probably doing better on the investment capital front. And of course, the founders were likely to come forward as well.