Mythic raises $125 million to challenge Nvidia with analog AI chips
The Austin chip company, led by DCVC with Honda and Lockheed Martin participating, capped a turnaround with an oversubscribed round.
AUSTIN — Mythic, which builds analog compute chips designed to run AI with a fraction of the power of conventional processors, has raised an oversubscribed $125 million round, the Austin company announced in December.
The financing was led by DCVC and included strategic investors Honda and Lockheed Martin. The raise caps a turnaround for Mythic, which rebuilt its architecture, roadmap and strategy under chief executive Taner Ozcelik, a Nvidia and ON Semiconductor veteran who joined in 2024.
Mythic pitches its analog approach as a way to break through AI's growing power constraints, targeting edge applications where energy efficiency matters most.
Why it matters
Most AI-chip challengers are trying to out-engineer Nvidia on its own digital terrain. Mythic's analog bet is a genuinely different architecture, and the participation of industrial and defense strategics suggests demand for low-power inference beyond data centers. For Austin, the raise reinforces the city's semiconductor depth as it tries to extend a chip legacy into the AI era.
Mythic is now fully empowered to scale the world's next great computing architecture.— Matt Ocko, Co-Founder and Managing Partner, DCVC
Reported by Next in Austin. Based on reporting from DCVC.
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