Fractile completes $720 million Series C funding
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UK AI chip startup Fractile has completed a $720 million Series C funding round, led by Thrive Capital, Founders Fund, Lightspeed Venture Partners and Redpoint, with participation from the UK sovereign AI fund. The UK government said this round values Fractile at over £5 billion; according to the Financial Times and a Reuters source, the valuation may be around $7 billion. Fractile said the new funds will be used to deliver its first chips and systems next year.
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- TechCrunch · AIWith $720M round, Britain’s Fractile gets a leg up in the race for AI chips
Fractile, a British startup developing AI chips, has raised a $720 million Series C backed by Britain's Sovereign AI Fund, with the British government stating the valuation was "over £5 billion." The round was led by Thrive Capital, Founders Fund, Lightspeed Venture Partners and Redpoint, and Fractile pairs its hardware with a machine learning compiler in a full-stack approach. Its design stacks DRAM on top of each chip to try to bypass the usual memory-capacity tradeoff, and CEO Walter Goodwin said the funding will let the startup ship its first chips and systems next year.
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