Lockheed makes second investment in AI chip maker

Lockheed Martin Ventures has made a second investment in Mythic, an emerging tech firm in the artificial intelligence space.

Mythic is developing computer chips that are expected to be a breakthrough for analog compute in memory technology. L

Lockheed invested in the company in March of 2018 and was part of a recent $30 million investment round led by Valor Equity Partners, which brought in several new investors -- Future Ventures, Atreides, Micron Ventures and Lam Research. In addition to Lockheed, other existing investors also parcitipated including SoftBank Ventures Asia, Threshold Ventures, Lux Capital DCVC, and AMC Cloud Ventures.

Mythic has now raised $70 million to fund its research and development work.

The company expects to bring what it calls “inference processors” to market this year.

"This new financing round underscores our belief that Mythic will play a leading role in the explosive deployment of AI products both in the datacenter and at the edge," said Mike Henry, co-founder and CEO of Mythic.

The company also has bolstered its leadership team bringing on executives with experience at large tech firms such as Samsung, NVDIA, and Sun Microsystems.