MatX, a chip startup founded by two former Google hardware engineers, has raised a $500 million Series B led by Jane Street and Situational Awareness, an investment fund formed by former OpenAI researcher Leopold Ashenbrenner.
The company aims to make its processors 10 times better at training LLMs and delivering results compared to Nvidia’s GPUs.
Other investors in the round include Marvell Technology, NFDG, Spark Capital and Stripe co-founders Patrick Collison and John Collison, the startup’s founder and CEO Rainer Popp announced on Tuesday. Post on LinkedIn.
Although the company did not release its latest valuation, MatX’s closest rival, Etched, raised a $500 million round. $5 billion valuationBloomberg reported last month. Etched did not immediately respond to a request for comment.
MATAX’s latest round comes more than a year after its nearly $100 million Series A, which was led by Spark Capital. TechCrunch previously reported that the startup’s 2024 round was valued at more than $300 million.
Before co-founding matx In 2023, Pope led AI software development for Google’s TPU, AI chips owned by the tech giant. their co-founder, Before launching the startup, Mike Gunter was the lead designer for TPU hardware.
The new funding will help MatX produce its chips with TSMC, with plans to begin shipping them in 2027.
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