Hailo Seeks SPAC Merger Amid Financial Struggles

Edge AI chipmaker Hailo Technologies is reportedly planning to go public through a SPAC merger, according to regulatory filings from investor Delek Automotive. The move comes amid an urgent need for liquidity, following a 10% workforce reduction in January and a $9 million loan. The listing would slash Hailo's valuation from $1.2 billion to under $500 million. Hailo makes AI chips for connected devices including cameras and industrial robots, using a structure-driven dataflow architecture that reduces data movement to improve speed and power efficiency. The company plans to list on a U.S. stock exchange in the coming months, though the specific SPAC partner and fundraising target remain undisclosed.