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Nuvia co-founders John Bruno, Gerard Williams and Manu Gulati. Photo: Nuvia

Nuvia, a server chip start-up founded by three former Apple employees, is announcing today it has raised $240 million in fresh funding.

The big picture: The move comes amid increased interest in server chips that, like Nuvia's are Arm-based. It's also happening as Arm is being sold to Nvidia and Nuvia itself is being sued by Apple.

Details: The Series B round, led by Mithril Capital, follows $53 million raised in a November round. Other investors in the latest round include Atlantic Bridge, Redline Capital, Capricorn Investment Group, Dell Technologies Capital, Mayfield, Nepenthe LLC and WRVI Capital.

The big picture: Nuvia is targeting all the major server categories: Devices sold commercially by companies like Dell, companies like Google and Facebook that build custom servers for their data centers, and high-performance computing (the kinds of one-off supercomputers that are built for governments, universities and research institutions).

Nuvia co-founder and engineering head Manu Gulati told Axios that the big web service providers could be the easiest market for Nuvia to gain traction in since they design their own custom servers.

Between the lines: While the Apple lawsuit was a distraction initially, Gulati said it has also helped the company gain notice.

"There were two parties who told us point blank they were talking to us because of the lawsuit," he said.

Meanwhile: Gulati said Intel's well-publicized manufacturing challenges have boosted Nuvia's fundraising efforts.

"The fact Intel is struggling so much it makes it easier for everybody else who is investing to understand this is something worth taking on," he said.

What's next: The company hopes to finalize its first chip design some time next year, with the goal of getting the first samples in customer hands the following year.

Go deeper

Why Facebook's cloud gaming won't be coming to your iPhone

Illustration: Sarah Grillo/Axios

Facebook on Monday launched its free cloud gaming platform on desktop and Google's Android mobile operating system but said it it couldn't offer the service on Apple's iOS because of Apple's "arbitrary" policies on applications that act like app stores.

The big picture: It's the latest example of the complex interrelationships among tech's biggest companies, which cooperate with one another in some areas while competing and fighting in others.

Updated 14 mins ago - Sports

Naomi Osaka eliminated from Olympic tennis tournament

Czech 42nd-ranked Marketa Vondrousova (L) shakes hands with Japan's Naomi Osaka after their Tokyo 2020 Olympic Games women's singles third round tennis match at the Ariake Tennis Park in Tokyo on Tuesday. Photo: Giuseppe Cacace/AFP via Getty Images

Naomi Osaka was eliminated from the Olympics after losing her Tokyo tennis tournament match 6-1, 6-4 in the third round to Czech Marketa Vondrousova on Tuesday.

Of note: Japan's Osaka is the women's world No. 2, while is Vondrousova ranked No.42.

Updated 18 mins ago - Sports

Olympics dashboard

🏄‍♀️: American Carissa Moore wins first-ever women's Olympic gold in surfing

🎾: Naomi Osaka eliminated from Olympic tennis tournament

🏊‍♀️: Teen swimmer Lydia Jacoby wins first U.S. women's Tokyo Games gold

✊🏿: Costa Rican gymnast pays tribute to Black Lives Matter in Olympic routine

🤖: The robot Olympics

🌡: Heat wave brings scorching temperatures to Tokyo Olympics

Go deeper: Full Axios coverage - Medal tracker