British startup Fractile, which develops chips for artificial intelligence, has raised $220 million to produce its first processors.
British startup Fractile, which develops chips for artificial intelligence, has raised $220 million to produce its first processors.
The round was led by Accel, Factorial Funds and Peter Thiel’s fund, the company said on Wednesday.
The startup also received investments from Conviction, Felicis, Buckley Ventures, 8VC, and Gigascale Capital, the fund of former Meta top manager Mike Schropfer.
According to people familiar with the details of the deal, this funding gives the startup a valuation of around $1 billion.
The company’s goal is to significantly reduce the time it takes for artificial intelligence models to generate answers through its AI chips, and to enable more complex programs by reducing request processing time.
«A slew of companies have raised venture capital, promising to compete with Nvidia for artificial intelligence processors, but few have made progress in capturing the giant’s market share,» Bloomberg states.
As previously reported by Information, Anthropic has already held talks with Fractile about purchasing its chips when they become available next year.
Previous investors in Fractile included Kindred Capital, Oxford Science Enterprises, and the NATO Innovation Fund.
As previously reported by dev.ua, Apple held private negotiations with Intel and Samsung about supplying chips for their gadgets.
