TL;DR:
- AMD and KT invested $22 million in Moreh, an AI software developer.
- Moreh’s MoAI software is optimized for AI model creation and is compatible with major machine learning frameworks.
- Traditional AI software is inadequate for enterprise-scale AI infrastructure.
- Moreh enables flexible AI infrastructure, addressing GPU shortage.
- KT collaborates with Moreh for cost-effective, scalable AI infrastructure.
- Moreh’s technology outperforms Nvidia in performance and GPU throughput.
- Recent milestone: Moreh trains Korean-language LLM with 211 billion parameters.
- Moreh aims to reach $30 million in revenue by 2023.
- Capital from Series B round to fund R&D, product expansion, and team growth.
- South Korean VC firms Smilegate Investment and Forest Partners also participate.
Main AI News:
Santa Clara-based semiconductor giant, Advanced Micro Devices (AMD), and South Korean telecommunications company, KT, have joined forces to back AI software developer Moreh in a recent $22 million Series B funding round. This investment brings Moreh’s total funding to $30 million, further solidifying its position in the burgeoning AI software market.
Moreh, headquartered in Santa Clara and Seoul, specializes in the development of AI software tools aimed at optimizing and creating AI models. Their flagship product, known as MoAI, is gaining significant traction in the industry, thanks to its compatibility with established machine learning frameworks such as Meta’s PyTorch, Google’s TensorFlow, and even applications and AI models that were previously exclusive to Nvidia’s CUDA.
According to recent industry reports, the demand for AI at an enterprise scale is rapidly increasing, putting a strain on existing IT infrastructure and data architectures. Moreh recognizes this challenge and offers AI solutions that cater to a variety of users, including AI developers, data center operators, and AI chip manufacturers. In an era where the global shortage of GPUs (graphics processing units) persists, Moreh’s technology enables the construction of flexible AI infrastructure, addressing a critical need in the market.
Gangwon Jo, co-founder and CEO at Moreh, highlights the company’s achievement in enabling GPUs and other AI chips, such as neural processing units (NPUs), to operate AI models, including large language models (LLMs) like GPT-3 and T5, without requiring any code modifications. NPUs are specialized chips designed to accelerate machine learning algorithms, while GPUs are utilized for supercomputing, AI, machine learning, and data analysis demanding high numerical precision.
KT, in collaboration with Moreh since 2021, has been actively working to establish a cost-effective and scalable AI infrastructure powered by AMD GPUs and Moreh’s MoAI software. KT asserts that Moreh’s technology has not only proven its effectiveness but has also surpassed Nvidia’s DGX in terms of performance speed and GPU memory capacity. According to Moreh, AMD’s MI250 Instinct accelerator, powered by the MoAI platform, has demonstrated a remarkable 116% higher GPU throughput compared to Nvidia’s A100. Moreover, AI developers can reduce training initiation time for large AI models by a significant tenth through the use of Moreh’s software.
In a notable milestone, Moreh recently completed the training of a Korean-language-based LLM with a staggering 211 billion parameters, which will be released as open source later this year.
With a revenue stream established in 2021, Moreh has ambitious plans to achieve approximately $30 million in revenue by the end of 2023, according to Jo.
Brad McCredie, corporate vice president of data center GPU and accelerated processing at AMD, expressed enthusiasm for the growth of the AI software ecosystem, stating, “The AI software ecosystem supporting AMD AI hardware continues to grow, providing choice for data scientists and other users of AI as they build the AI models and solutions that will drive the continued growth of this industry.”
The capital raised in this Series B round will be allocated towards research and development, expanding product offerings, and scaling the team, which currently comprises 70 employees. Notably, South Korean VC firms Smilegate Investment and Forest Partners, existing investors in Moreh, also participated in this round, reinforcing the company’s position as a frontrunner in the AI software sector.
Conclusion:
AMD and KT’s substantial investment in Moreh reflects the growing demand for AI software solutions at an enterprise scale. Moreh’s innovative technology not only addresses existing infrastructure challenges but also outperforms industry giants like Nvidia. This investment signifies the increasing importance of AI in business operations and the potential for continued growth in the AI software market.
