Positron AI

AI Chips · Semiconductors · AI Infrastructure

Funding

Positron AI raises $875M Series C at $5B valuation for inference chips

Its valuation quintupled in seven months, betting a chip that hasn't even taped out can undercut Nvidia's inference economics.

• Positron AI raised $875 million in Series C funding at a $5 billion post-money valuation, co-led by NEA, Atreides Management, Valor Equity Partners, Andra Capital, SemiAnalysis Capital and Jim Clark.
• The Reno, Nevada startup builds memory-first AI inference hardware, using commodity LPDDR5X memory instead of scarce HBM to cut the cost and power of running AI models.
• The round closed in two tranches: a $375 million Series C priced at a $3.5 billion pre-money valuation, followed by a Series C-1 of up to $500 million led by NEA and Jim Clark.
• Positron's valuation has roughly quintupled from just over $1 billion at its Series B in February 2026 to $5 billion just seven months later.
• Proceeds will fund the tapeout of Asimov, Positron's next-gen chip targeted for TSMC's N3P process in late 2026, and the production ramp of Titan, its multi-terabyte-memory inference system, expected in the second half of 2027.
• Positron's first-generation Atlas system is already deployed across more than 50 racks at Oracle Cloud Infrastructure, serving customers including Parasail, Jump Trading and i3d.net.
• The round reflects investors betting that AI's cost center is shifting from training to inference, where memory bandwidth and power efficiency matter more than raw GPU compute.