[TECHCRUNCH] AMD and Korean telco KT back AI software developer Moreh in $22M Series B

This is the best summary I could come up with:

KT has been working with Moreh since 2021 to build a cost-effective, scaleable AI infrastructure powered by AMD GPUs and MoAI software.

AMD’s MI250 Instinct accelerator powered by the MoAI platform showed 116% higher GPU throughput than Nvidia’s A100, according to Moreh, which also said AI developers could reduce a tenth of the total time required to initiate training for large AI models via its software.

Most recently, the startup completed the training of Korean-language-based LLM with 211 billion parameters and will release the model as open source later this year.

Moreh started generating revenue in 2021 and aims to reach approximately $30 million by the end of 2023, Jo told TechCrunch.

Moreh will use the money for research and development, product expansion and hiring additional staff, which now has 70 employees.

South Korean VC firms Smilegate Investment and Forest Partners, Moreh’s existing investor, also participated in the Series B round.

The original article contains 481 words, the summary contains 151 words. Saved 69%. I'm a bot and I'm open source!

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This is the best summary I could come up with:
KT has been working with Moreh since 2021 to build a cost-effective, scaleable AI infrastructure powered by AMD GPUs and MoAI software.
AMD’s MI250 Instinct accelerator powered by the MoAI platform showed 116% higher GPU throughput than Nvidia’s A100, according to Moreh, which also said AI developers could reduce a tenth of the total time required to initiate training for large AI models via its software.
Most recently, the startup completed the training of Korean-language-based LLM with 211 billion parameters and will release the model as open source later this year.
Moreh started generating revenue in 2021 and aims to reach approximately $30 million by the end of 2023, Jo told TechCrunch.
Moreh will use the money for research and development, product expansion and hiring additional staff, which now has 70 employees.
South Korean VC firms Smilegate Investment and Forest Partners, Moreh’s existing investor, also participated in the Series B round.
The original article contains 481 words, the summary contains 151 words. Saved 69%. I'm a bot and I'm open source!