Chip Startup Sued By Apple Has Struggled to Raise Capital

Rivos, a server chip developer that Apple sued for alleged trade secret theft, has since struggled to raise funds from investors and recruit employees, its co-founders have told some staff. Apple sued the startup last year after it hired numerous employees from Apple’s chip design unit.

Rivos last week laid off nearly two dozen employees, 6% of staff, and its leaders made comments to remaining staff implying it had limited access to new capital. Its co-founders separately told some staff that Apple’s lawsuit against the company and several of its ex-Apple employees had affected its fundraising process. A judge recently dismissed Apple’s lawsuit against the company, but Apple’s case against several individual Rivos employees continues.