ASX-listed AI model builder Pathkey.AI has appointed Sam Weiss as strategic advisor to its chief executive and Chipforge team.
Weiss previously served as non-executive chairman of formerly listed printed circuit board designer Altium, where he oversaw that company’s sale to Japanese semiconductor firm Renesas Electronics for around $1.9 billion.
In his new role, Weiss has commissioned the issuance of 100 million new Pathkey shares priced at $0.028 per share, aimed at institutional and sophisticated investors.
As a result, Pathkey has confirmed receipt of "firm commitments" to raise $2,800,000 (before costs).
The funds will be used to accelerate technology, marketing and business development of Chipforge, support business development programs for existing assets, strengthen commercial initiatives and general working capital.
Pathkey.AI bought Singaporean-based Chipforge, an AI-powered chip design platform for semiconductor engineering, at the end of April this year.
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