SiFive raised $400 million in a Series G funding round. This investment brings the company's total valuation to $3.65 billion. Atreides Management led the round. Nvidia, Apollo Global Management, and Point72 Turion also participated in the financing.
The company will use the capital to expand into the high-performance data center market. SiFive designs chip blueprints based on open-source RISC-V architecture. This technology positions the firm as a primary alternative to Arm Holdings.
CEO Patrick Little expects this to be the final funding round before a planned initial public offering. The company has not yet provided a specific IPO timeline. Little stated that recent strategic shifts by Arm are helping SiFive attract new customers.