The firm emerged from stealth Tuesday, and announced it raised the funds over two rounds led by San Francisco-based Quiet Capital and Pierre Lamond, an emeritus partner at venture capital firm Eclipse. (The Logic)

Talking point: Taalas is developing chips it says will run deep-learning models most efficiently and effectively, by embedding the latter in the former. As AI systems grow and proliferate to more devices and applications, the firm is betting on outperforming do-everything semiconductors like Nvidia’s graphics processing units. Taalas is commencing with a large language model chip, which it plans to sell starting in the first quarter of next year. The firm’s CEO Ljubisa Bajic previously co-founded and ran Toronto’s Tenstorrent, which makes AI chips and is licensing its technology to device manufacturers and automakers.