November 22, 2024: AI Chip Startup MatX Raises $80M Series A - AI chip startup MatX, founded by former Google engineers Mike Gunter and Reiner Pope, secured $80 million in a Series A funding round led by Spark Capital. The investment values MatX at over $300 million post-money. The company focuses on crafting chips for AI workloads with billions of activated parameters, positioning itself as a cost-effective alternative to NVIDIAs GPUs. MatXs advanced interconnect technology promises scalability for large clusters. The startup previously raised $25 million in a seed round less than a year ago, attracting prominent AI investors Nat Friedman and Daniel Gross.
