What Panmnesia does

Panmnesia Inc. is a South Korean fabless semiconductor company founded in August 2022 and headquartered in Daejeon, originating from KAIST academic research. The company develops full-stack interconnect (link) solutions for AI data center infrastructure, spanning silicon IP, hardware chips, and software, with a primary focus on the Compute Express Link (CXL) and PCIe protocols. Its product portfolio includes the Link Controller IP and Link Acceleration Unit (LAU) IP for low-latency CXL communication; PanSwitch, a PCIe 6.4-CXL 3.2 fabric switch implementing Port-Based Routing (PBR) with 256-lane fan-out and sub-100 nanosecond latency; PanRetimer for signal regeneration; and higher-level offerings including PanEndpoint custom SoC design, PanFabric network management, and a Total AI Solution bundle.

The company's revenue model combines silicon IP licensing (Link Controller IP, LAU IP), hardware semiconductor sales (switch and retimer chips), and custom silicon co-development services. Distribution is via direct enterprise field sales, supplemented by strategic partnerships with hyperscale operators and accelerator designers. Panmnesia's primary customer segment is hyperscale AI data center operators — exemplified by its flagship partnership with SK Telecom for the Ulsan 60,000-GPU AI Data Center — with secondary segments in HPC cluster computing, enterprise data centers, and European AI/HPC infrastructure. The firm is a member of the CXL Consortium, UALink (alongside AMD, AWS, Google, Microsoft, and Meta), Open Compute Project, PCI-SIG, and RISC-V International.

As of 2026, Panmnesia has raised approximately $69.5 million in total funding across a $12.5 million seed round (September 2023, led by Daekyo Investment) and a $57 million Series A (November 2024, led by 15 venture capital firms), reaching an approximate $250 million post-money valuation. The company has 51–100 employees and operates engineering and R&D operations from Daejeon with a business development office in Seoul. Strategic priorities include extending from CXL into UALink and Ethernet-based interconnect standards, expanding into the European supercomputing ecosystem via the Openchip partnership, and capturing early reference designs for agentic AI workloads through its KV Cache memory pool architecture.

Name

Panmnesia

Legal name

Panmnesia Inc.

Website

https://panmnesia.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Panmnesia is a South Korean fabless semiconductor company developing full-stack CXL and PCIe interconnect solutions — including silicon IP, switches, retimers, and software — for hyperscale AI data center operators, HPC clusters, and accelerator designers.

Ownership category

akta.pro rank

Product category

Semiconductor Interconnect IP and Chips

NAICS

Electronic Computer Manufacturing (334111), Computer Storage Device Manufacturing (334112)

SIC

Electronic Computers (3571)

akta.pro primary industry

Hardware/Chip Design IP Cores (Processor, Interface, Analog, Security) (HDAHAFAF)

akta.pro secondary industries

Storage/IO Controllers & Bridge ICs (USB/PCIe/SATA/NVMe) (HDAHAJAI), Memory Interface & PHY ICs (DDR/HBM/SerDes PHY) (HDAHAKAE), AI Networking for Clusters (InfiniBand/Ethernet/RDMA) (HDAAAAAE)

Keywords

• CXL semiconductor IP
• PCIe interconnect chips
• AI infrastructure silicon
• Memory disaggregation hardware
• Fabless switch silicon

Headquarters

HQ city

Seongnam

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Supply Chain, Marketing or Sales, Operations

Revenue model

1. Silicon IP Licensing: Licensing of proprietary CXL and PCIe IP blocks (Link Controller IP, LAU IP) to semiconductor companies for integration into their designs. The IP is configurable and designed for fast time-to-market.
2. Hardware Semiconductor Sales: Sale of semiconductor chips including PanSwitch (fabric switches), PanRetimer (signal regeneration), and custom silicon solutions. Products include pre-release silicon samples, pilot systems, and volume production chips.
3. Custom Silicon & Solutions: Co-development of custom silicon solutions (PanEndpoint, PanFabric) with partners, providing end-to-end AI infrastructure solutions. Includes architecture reviews, RTL tuning, and verification services.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Panmnesia develops full-stack CXL and PCIe interconnect semiconductor solutions for AI data center infrastructure. Its portfolio spans silicon IP (Link Controller IP, LAU IP), hardware chips (PanSwitch fusion switch, PanRetimer signal regenerator), and custom silicon and software solutions (PanEndpoint, PanFabric, Total AI Solution). The offerings enable memory pooling, disaggregation, and composable architecture to address the memory wall bottleneck in hyperscale AI and HPC environments.

Product overview

Panmnesia is a South Korean fabless AI infrastructure company founded in August 2022 (originating from KAIST academic research) that develops full-stack link solutions for end-to-end AI infrastructure. The product portfolio consists of three layers: (1) Silicon IP including Link Acceleration Unit (LAU) IP and Link Controller IP that provide low-latency CXL communication building blocks; (2) Hardware products including PanSwitch (PCIe 6.4-CXL 3.2 fusion switch) and PanRetimer (signal regeneration solution); and (3) Custom Silicon & Solutions including PanEndpoint (customizable endpoint SoC), PanFabric (network design solution), and Total AI Solution (comprehensive end-to-end offering). The complete portfolio enables memory pooling, disaggregation, and composable architecture for AI data centers, supporting protocols including PCIe and CXL (with backward compatibility to CXL 1.1/2.0/3.2 and upcoming CXL 4.0).

Differentiator

Problem solved

Functional benefit

Brands

• PanSwitch: World's first CXL 3.2 full-featured switch and hybrid switch supporting both PCIe 6.4 and CXL 3.2 for AI infrastructure
• PanRetimer
• LAU IP (Link Acceleration Unit)
• Link Controller IP
• PanEndpoint
• PanFabric
• Total AI Solution

Products and services

• PanSwitch World's first PCIe 6.4-CXL 3.2 switch chip for AI infrastructure that interconnects thousands of memory, compute, and accelerator devices into a unified composable fabric, featuring 256-lane fan-out and sub-100ns latency.
• PanRetimer High-performance signal regeneration solution for PCIe 6.4/CXL 3.2 links that preserves signal fidelity across extended connections, built using Link Controller IP with two-digit nanosecond roundtrip latency.
• LAU IP (Link Acceleration Unit) Purpose-built hardware IP block accelerating device-specific end-to-end communication over CXL, accelerating memory expander devices (CXL type 3), accelerators (CXL type 1/2), and CPUs with hardware-managed cache coherency.
• Link Controller IP Critical logic implementation enabling hardware to communicate over CXL networks with two-digit nanosecond roundtrip latency, PCIe 7.0/CXL 4.0 compliance, and configurable options for memory expander, accelerator, and CPU designs.
• PanEndpoint Customizable PCIe 7.0-CXL 4.0 endpoint SoC design service enabling partners to build high-performance hardware for AI, HPC, and cloud workloads with direct low-latency cache-coherent communication between devices.
• PanFabric Next-generation network design and management solution that connects system devices with optimized network topologies and traffic engineering, offering ultra-high scalability via 256-lane switches and disaggregation of compute and memory.
• Total AI Solution End-to-end AI infrastructure solution spanning from IP design to complete software systems, including optimized software stack for low-latency data exchange, failure tolerance mechanisms, and early access to next-generation AI acceleration technologies.

Quantifiable outcome

• 8.2x faster performance than RDMA-based memory disaggregation
• +4 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and flagship.

• KAISTcoreStrategic or Co-development Partner · 23 March 2026Strategic partnership under the national 'AX Strategy of South Korea's Four Leading Science and Technology Institutes' initiative. Partnership aims to drive AI Transformation (AX) innovation based on link semiconductor technology. Collaboration includes 15 leading companies across diverse sectors including semiconductors, bio, defense, robotics. Panmnesia also seeks to apply AX technology to semiconductor design itself.
• SK TelecomflagshipStrategic or Co-development Partner · 3 March 2026Strategic partnership at MWC26 in Barcelona to jointly develop CXL-based next-generation AI data center architecture. Aims to improve cost efficiency and performance by enabling flexible rack-level resource allocation of CPUs, GPUs, and memory. SK Telecom leads architecture design for commercial AI environments while Panmnesia provides CXL switching technology. Partnership targets the SK AI Data Center Ulsan hyperscale facility with 60,000 GPUs by 2027. Companies plan to validate architecture by running real AI models by end of 2026.
• OpenchipflagshipStrategic or Co-development Partner · 3 March 2026MOU signed at MWC26 in Barcelona for technical collaboration on AI/HPC infrastructure. Focuses on exploring collaboration across various link standards and system architecture configurations. Openchip, a European RISC-V and supercomputing startup headquartered in Barcelona, aims to combine RISC-V accelerators with Panmnesia's advanced link technologies to address data movement bottlenecks. This is Panmnesia's first reference deployment for European supercomputing ecosystem.
• CXL ConsortiumcoreTechnology or IntegrationMember of the CXL Consortium, the industry body governing the Compute Express Link standard. Enables Panmnesia to influence standards development and ensure product interoperability.
• UALink ConsortiumcoreTechnology or IntegrationMember of the UALink Consortium (Ultra Accelerator Link) alongside AMD, AWS, Google, Microsoft, Meta, and other member companies. Jointly developing open interconnect standards for high-speed AI accelerator connectivity.
• Open Compute Project (OCP)coreTechnology or IntegrationActive member of the Open Compute Project, a leading open standards body for AI infrastructure. Participating in ESUN (Ethernet for Scale-up Networking) initiative for Ethernet-based interconnect development.
• PCI-SIGcoreTechnology or IntegrationMember of PCI-SIG, the standards organization for Peripheral Component Interconnect Express. Enables participation in PCIe standards development.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Intel: Original driver of the CXL standard and producer of Xeon CPUs, GPU accelerators, and platform-level silicon. Sets the platform direction that determines CXL adoption velocity and competes indirectly via integrated CPU/accelerator roadmaps that include CXL fabric.
• Marvell Technology: Major supplier of networking, switching, and storage silicon to cloud data centers, including custom ASIC programs for hyperscalers. Comparable in targeting AI/cloud interconnect and memory-fabric adjacencies, though at much greater scale and breadth.
• Rambus: Licenses high-speed memory interface IP (DDR, HBM, PCIe/CXL PHY) and sells security and interface chips. Comparable to Panmnesia's IP-licensing business model and memory-interface technology focus, particularly for HBM/DDR-adjacent CXL use cases.
• Broadcom: Dominant incumbent in PCIe switching and Ethernet NIC/ASIC silicon, supplying hyperscalers and OEMs at scale. A key competitor for rack-scale PCIe/CXL switch sockets and the broader AI fabric market Panmnesia is targeting.
• Microchip Technology: Established vendor of PCIe switches, retimers, and bridge ICs serving enterprise and embedded markets. Overlaps with Panmnesia's switch and retimer product categories, but as part of a much broader mixed-signal and MCU portfolio rather than AI-data-center specialization.

Direct peers

• Alphawave Semi: Provider of high-speed connectivity IP, chiplets, and silicon for data centers, with strong SerDes and PCIe/CXL IP offerings. Comparable as a connectivity-IP-and-silicon peer licensing into hyperscaler and semiconductor customers, similar to Panmnesia's Link Controller IP and LAU IP business.
• Astera Labs: Public fabless semiconductor company specializing in connectivity ICs for AI/cloud infrastructure, including Aries retimers and CXL/PCIe solutions. The closest direct competitor to Panmnesia in CXL/PCIe retimers and switch silicon for AI data centers.
• XConn Technologies: CXL switch chip startup developing high-radix CXL switches for memory pooling and AI infrastructure. Competes head-to-head with Panmnesia in the CXL switch category, including roadmap alignment with CXL 3.x specifications.

Others

• Synopsys: Dominant provider of semiconductor IP and EDA tools, including interface and processor IP families used in SoCs. Adjacent enabling player — Synopsys ships the design tools and competing IP blocks that Panmnesia's customers also use, and competes at the silicon IP layer.

Emerging players

• Enfabrica: Startup building high-performance networking and accelerator interconnect silicon (CXL/PCIe-based) for AI clusters. Comparable in that it targets the same memory-fabric and accelerator-composability use cases, though with a different architectural emphasis.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=c3n9fNzgDr0

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds2 records

Investors16 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Panmnesia