U.S. startup Eliyan announced Wednesday that it had raised $145 million in funding, bringing its valuation to $1 billion. The company is dedicated to developing technology to alleviate data transfer bottlenecks between AI chips within data centers. Currently, most AI chips process data much faster than they can transmit it, resulting in idle chips. Eliyan aims to address this issue by offering standalone solutions, licensing its technology, and providing “chiplets” that can be integrated into custom processors. Early investors from Cisco Systems, Lumentum, and Mellanox participated in this funding round. Eliyan expects to begin initial shipments of chiplets this year and projects sales to reach hundreds of millions of dollars by the end of 2027.