Zyphra, an American artificial intelligence model developer, is raising $500 million in a new funding round that includes commitment from chipmaker AMD, sources told Forbes. The valuation will be at least $5 billion, some of them said.

AMD did not respond to requests for comment. Zyphra declined to comment.

San Francisco-based Zyphra develops advanced, open-weight artificial intelligence models and offers cloud infrastructure services. While most AI labs still default to Nvidia chips, Zyphra says it trains and runs inference for its models........

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