Volantis, which aims to use vertical-cavity surface-emitting lasers, used in the iPhone's Face ID, to transmit data between AI and memory chips, raised $88M (Stephen Nellis/Reuters)

Volantis has secured $88 million in funding to develop a data-transfer system that uses vertical-cavity surface-emitting lasers (VCSELs) similar to those in the iPhone’s Face ID. The company plans to route high-speed data between AI processors and memory chips, aiming to reduce latency and power consumption in next-generation AI hardware.