Nuvacore seeks $2.5 billion valuation before developing its first chip

Nuvacore is seeking investment at a reported valuation of about $2.5 billion, even though it has not made a product yet.

It plans to build a processor for data centers, which need more computing power as AI use grows.

The deal is not final, so the amount raised and the valuation may change.

The proposed funding reflects investors’ growing interest in chips for AI.