MatX raised over $500 million in its latest funding round. The financing values the AI chip startup at several billion dollars. Jane Street and Situational Awareness led the investment. Additional participants include Marvell Technology, Spark Capital, and the co-founders of Stripe.
Former Google engineers Reiner Pope and Mike Gunter founded the company. The founders previously served on Google’s Tensor Processing Unit (TPU) team. MatX is developing hardware designed specifically for large language models. The architecture aims to combine high-throughput performance with low-latency capabilities.
The company will use the new capital to finalize its chip design this year. MatX plans to scale manufacturing through a partnership with Taiwan Semiconductor Manufacturing Co. Product shipments are scheduled to begin in 2027.