Nuvia, founded by ex-Apple execs, raises $240 mln for data center chips

SAN FRANCISCO: Nuvia, a startup founded by three former Apple Inc executives in charge of iPhone chips, said Thursday it raised $240 million in a funding round led by a venture capital firm co-founded by early Facebook Inc investor Peter Thiel.

The Santa Clara, California firm was established last year to design a data center processor chip that is faster and more power-efficient than current offerings, tapping the team’s experience building powerful chips for battery-powered devices.

Nuvia is targeting customers that run massive data centers and primarily use chips from Intel Corp and Advanced Micro Devices Inc.