Cash-strapped AI chip startup Hailo sees valuation halved to under $500 million ahead of urgent IPO
Israeli firm seeks critical funding through a SPAC merger amid mounting market pressures.Israeli chip company Hailo, long considered one of the most promising startups in the local artificial intelligence industry, is preparing for a Wall Street IPO under conditions that reflect the dramatic shift in the technology market.Financial statements from Delek Automotive, which owns a 12.1% stake in Hailo, published on Tuesday, reveal that the AI processor manufacturer is merging with a SPAC to raise c...
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