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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.

NRA files for bankruptcy, says it will reincorporate in Texas

Wayne LaPierre of the National Rifle Association (NRA) speaks during CPAC in 2016. Photo: Saul Loeb/AFP via Getty Images

The National Rifle Association said Friday it has filed for voluntary bankruptcy as part of a restructuring plan.

Driving the news: The gun rights group said it would reincorporate in Texas, calling New York, where it is currently registered, a "toxic political environment." Last year, New York Attorney General Letitia James filed a lawsuit to dissolve the NRA, alleging the group committed fraud by diverting roughly $64 million in charitable donations over three years to support reckless spending by its executives.

28 mins ago - Politics & Policy

Biden: "We will manage the hell out of" vaccine distribution

Joe Biden. Photo: Chip Somodevilla / Getty Images

President-elect Joe Biden promised to invoke the Defense Production Act to increase vaccine manufacturing, as he outlined a five-point plan to administer 100 million COVID-19 vaccinations in the first months of his presidency.

Why it matters: With the Center for Disease Control and Prevention warning of a more contagious variant of the coronavirus, Biden is trying to establish how he’ll approach the pandemic differently than President Trump.