Xcena raises $135M betting AI’s bottleneck is memory, not compute

Original: This chip startup just raised $135M on a bet that AI’s biggest bottleneck isn’t compute — it’s memory

Xcena raised $135 million to build memory-centric chips aimed at cutting AI inference infrastructure costs.

South Korean chip startup Xcena raised a $135 million Series B at a $570 million valuation, bringing total funding to $185 million. The company argues AI inference is increasingly constrained by memory movement, not just GPU compute. Its prototype MX1 chip uses CXL to process data closer to DRAM, with Samsung foundry mass production planned by late 2026 and revenue targeted for 2027.

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