CuspAI

AI Materials Discovery · Semiconductors · Deeptech

Funding

CuspAI raises $450M Series B backed by Jeff Bezos, hits $2.6B value

The nine-month leap from a $520 million valuation reflects surging demand for AI-driven alternatives to scarce chipmaking metals.

• CuspAI closed a $450 million Series B co-led by Kleiner Perkins and NEA, with significant participation from Jeff Bezos's family office Bezos Expeditions, valuing the Cambridge startup at $2.6 billion.
• Founded in 2024 by Chad Edwards and Max Welling, CuspAI runs an AI platform called MIRA that generates, simulates and validates new materials for semiconductors, clean energy and carbon capture.
• Alongside the raise, CuspAI launched the 'AI Materials Foundry,' a network of 45+ partners including Nvidia, Meta, Samsung, Hyundai and Applied Materials, pooling compute, data and lab access for materials R&D.
• CuspAI's valuation grew nearly fivefold in nine months, from $520 million last September to $2.6 billion now, and the company has raised over $650 million in total.
• CEO Chad Edwards said CuspAI pivoted much of its research toward chipmaking materials over the past year, aiming to cut chipmakers' reliance on supply-chain-constrained metals like ruthenium and iridium.
• The deal signals investors betting that discovering entirely new materials, not just better chip designs, will be the next bottleneck and opportunity in semiconductors and clean energy.