Canadian chip company Untether AI winding down operations

Canadian chip company Untether AI winding down operations

An employee at Untether AI in Toronto holds a chip at their office in June, 2024. Advanced Micro Devices has struck a deal to access the Toronto-based startup’s talent as the company winds down.

Promising Canadian chip startup Untether AI Corp. is winding down after failing to raise money earlier this year, and its engineering employees will be transferred to American company Advanced Micro Devices AMD-T .

The arrangement is known as an “acquihire,” in which one company strikes a deal with another to gain access to talent instead of products or services.

Toronto-based Untether designed computer chips for artificial intelligence applications such as autonomous vehicles, robots and drones, and said its products were far more en