Chip startup Bolt Graphics is seeking to raise about $100 million at a valuation of around $700 million, Reuters reported, citing sources familiar with the matter.
The fundraising is still under way and the figures could change. No deal has been closed.
The company's Zeus GPU is aimed at scientific computing, physics simulation, chip design and professional rendering. Bolt Graphics completed its first round of testing this week and plans manufacturing with TSMC.
Gaming is planned for later; the professional and scientific market comes first.
The effort points to fresh competition in graphics processors, a market dominated by a small number of large suppliers.