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Positron AI has raised $875 million in a Series C financing that values the company at $5 billion post-money, the AI inference hardware developer said in a press release distributed via PR Newswire. The round was split into two tranches, with the $375 million Series C priced at a $3.5 billion pre-money valuation and a Series C-1 of up to $500 million. It was co-led by NEA, Atreides Management, Valor Equity Partners, Andra Capital, SemiAnalysis Capital and Jim Clark, founder of Silicon Graphics and Netscape.
The company said in the announcement that the new financing will support the tapeout of its next-generation Asimov silicon and the production ramp of the Titan multi-terabyte-memory inference system. As part of the round, Forest Baskett of NEA, Gavin Baker of Atreides Management, Dylan Patel of SemiAnalysis and Thomas Jermoluk from the Jim Clark Office will join Positron’s board of directors. Additional investors included the Qatar Investment Authority, which also participated in the company’s Series B round in February, along with Cisco Investments, Naver Ventures and several others.
Positron AI builds hardware and software designed to make AI inference more cost- and energy-efficient by addressing bottlenecks in memory capacity, bandwidth and power. The press release noted that as demand for AI agents, assistants and copilots grows, inference infrastructure is increasingly constrained, prompting the company’s memory-first architecture. That design reduces reliance on constrained High Bandwidth Memory and advanced packaging supply chains while supporting both air-cooled and liquid-cooled data centers.
The announcement highlighted Positron’s recent progress, including the deployment of more than 50 racks of its first-generation Atlas inference system at Oracle Cloud Infrastructure. This deployment marks the company as the first AI chip startup to achieve such scale with a hyperscaler. The release positioned the Series C as funding for the next phase of Asimov and Titan development following the Atlas rollout.
The latest round comes seven months after Positron’s $230 million Series B that valued the startup at more than $1 billion, Bloomberg reported in February. That round included strategic investment from the Qatar Investment Authority as the Gulf state expanded its focus on AI infrastructure. The sovereign wealth fund has since launched a dedicated AI subsidiary and entered a $20 billion joint venture with Brookfield Asset Management for compute projects.
Qatar Investment Authority’s involvement reflects its broader push into artificial intelligence, a sector where it has also backed companies such as xAI. The press release from Positron detailed how its technology aims to deliver lower total cost of ownership for running large language models at high token rates and long context lengths. By focusing on inference rather than training, the company seeks to serve both enterprise and research users with vendor-independent solutions.
