AI computing firm Blaize announced on Monday that it has successfully secured $106 million in funding, with contributions from existing investors such as Mercedes-Benz (MBGn.DE) and Temasek, among others.

The fundraising round also saw participation from other existing investors, including Bess Ventures, Franklin Templeton, and Denso, alongside new investors, such as Rizvi Traverse, Ava Investors, and BurTech LP. However, the company did not disclose specific details regarding its valuation in the statement.

This significant fundraiser underscores the growing excitement surrounding the AI sector, which has continued to attract a considerable share of venture capital investment, even amid a largely subdued economic environment. The recent launch of ChatGPT by OpenAI has further fueled interest in AI, prompting companies to invest millions of dollars to capitalize on this burgeoning trend.

Headquartered in El Dorado Hills, California, Blaize offers cutting-edge computing solutions across various sectors, including automotive, mobility, smart retail, security, industrial, and metro markets. The company had previously raised $224 million, indicating strong investor confidence in its innovative technologies and market potential.

Last December, Blaize announced its intention to go public through a SPAC (Special Purpose Acquisition Company) deal with BurTech Acquisition (BRKH.O), signaling its strategic plans for future growth and expansion.