Even after reading the article I'm a bit confused as to how $250mm is even enough to play ball in this industry, a single EUV lithography machine can cost more than their entire funding already. I'd be curious to know their plan to work around the significant investment required to even enter this market, as I doubt $250mm is really enough to develop anything rivaling the results of Nvidia or others.
Readit News
TFA:
> The company plans to use the fresh funds to pilot produce chips using Taiwan Semiconductor Manufacturing Co.’s 3NE process technology
(Previously it just said something about them being a "stealth mode start up")