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California-based AI chipmaker Blaize is set to go public on the Nasdaq through a SPAC deal today.
Founded in 2011 by former Intel engineers, Blaize focuses on AI chips designed for edge applications—smart products like security cameras, drones, and industrial robots—rather than the data center chips that dominate the market. The company has raised $335 million from prominent investors, including Samsung and Mercedes-Benz.
AI-powered edge computing is the future, said Blaize CEO Dinakar Munagala, emphasizing the advantages of low power consumption, cost-effectiveness, and improved data privacy. Munagala, who spent nearly 12 years at Intel, believes Blaize's focus on practical AI applications in the physical world sets it apart.
While the company is currently unprofitable—reporting $87.5 million in losses against $3.8 million in revenue in 2023—it has $400 million worth of deals in the pipeline. Among them is a $104 million purchase order from a defense entity in the EMEA region for systems that detect drones, small boats, and troops.
Valued at $1.2 billion post-merger, Blaize is positioning itself as a key player in edge computing AI. Unlike competitors such as Cerebras, which targets data centers, Blaize sees a lucrative future in integrating AI into everyday physical products.
We’re focused on the practical use of AI in the physical world, Munagala said, adding that the market for such applications remains largely untapped.
This public debut highlights a growing interest in AI startups as the industry evolves beyond data centers to real-world applications.