Cambridge-based CuspAI has raised nearly half a billion dollars in a new funding round led by venture capital firms Kleiner Perkins and NEA. The financing, which saw significant participation from Jeff Bezos's Bezos Expeditions, raises the two-year-old startup's valuation to $2.6 billion.
CuspAI uses artificial intelligence to accelerate the discovery of new materials, aiming to make processes like semiconductor manufacturing more efficient and sustainable. Concurrent with the funding, the company launched the AI Materials Foundry, a coalition of over 48 technology giants, industrial firms, and research facilities. Founding members of the alliance include NVIDIA, Meta Platforms, and Hyundai Motor Group, with AMD's venture arm also joining the investment round. The coalition will pool resources to develop software that can design novel materials for chipmaking and other industries.