Netherlands-based Axelera AI, an AI acceleration hardware and software provider has announced the successful completion of their US$68 million Series B financing round.

Samsung Electronics emerged as the leader in the global semiconductor market (excluding foundry) in the first quarter of 2024, capturing an 11% market share by sales value, according to Counterpoint Research statistics cited by South Korean media outlets Business Post and Edaily.

South Korea faces a severe talent drain in the AI and semiconductor sectors due to a stark salary gap compared to their US counterparts, posing a national security threat as these industries are critical drivers of South Korea’s economic and technological competitiveness.

The Ultra Accelerator Link (UALink) alliance, which saw the gathering of many IT giants, is committed to challenging the NVLink ecosystem, an AI chip accelerator interconnect technology standard dominated by Nvidia. At the Samsung Foundry Forum (SFF) 2024, Samsung Electronics expressed the possibility of participating in UALink.