XCENA, a chip startup with operations in South Korea and the United States, has raised $135 million in a Series B funding round, elevating its valuation to $570 million. The company, co-founded by former Samsung and SK Hynix executives, aims to address AI memory bottlenecks by shifting some computational tasks closer to memory, thereby reducing latency and power consumption. XCENA's prototype chip, MX1, connects to CPUs via CXL and is designed to streamline data processing tasks such as preprocessing and cache management. The company plans to begin mass production of its chips by the end of 2026, targeting hyperscale cloud providers as primary customers. XCENA's approach could potentially consolidate workloads from multiple servers onto a single server, offering significant cost savings. The funding round was led by Altinum and IMM Investment, with participation from Corstone Asia and existing investors. XCENA is also exploring further funding opportunities with international investors.