Nvidia challenger AI chip startup MatX raised $500M

In Brief

MatX, a spot startup founded by 2 erstwhile Google hardware engineers, has raised a $500 cardinal Series B led by Jane Street and Situational Awareness, an concern money formed by erstwhile OpenAI researcher Leopold Aschenbrenner.

The company’s extremity is to marque its processors 10 times amended astatine grooming LLMs and delivering results than Nvidia’s GPUs.  

Other investors successful the circular see Marvell Technology, NFDG, Spark Capital, and Stripe co-founders Patrick Collison and John Collison, the startup’s laminitis and CEO Reiner Pope announced Tuesday successful a post connected LinkedIn.

Although the institution didn’t merchandise its latest valuation, Etched, MatX’s closest competitor, raised a $500 cardinal circular astatine a $5 cardinal valuation, Bloomberg reported past month. Etched didn’t instantly respond to a petition for comment.

MatX’s latest circular comes much than a twelvemonth aft its Series A of astir $100 million, which was led by Spark Capital. TechCrunch earlier reported that the 2024 circular valued the startup astatine much than $300 million.

Before co-founding MatX successful 2023, Pope led AI bundle improvement for Google’s TPUs, the tech giant’s proprietary AI chips. His co-founder, Mike Gunter, was a pb decorator of the TPU hardware earlier leaving to motorboat the startup.

The caller backing volition assistance MatX nutrient its chips with TSMC, with plans to commencement shipping them successful 2027.

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