MatX, an AI chip startup founded by ex-Google engineers, has secured $500 million in Series B funding, led by Jane Street and Situational Awareness. The company aims to develop processors that outperform Nvidia’s GPUs in large language model training by ten times. Investors include Marvell Technology and co-founders of Stripe, with MatX's valuation exceeding $300 million. The startup, established in 2023 and led by CEO Reiner Pope, plans to use the funding for chip production with TSMC, with shipments expected to start in 2027.
