MatX: $500 Million Series B Raised To Accelerate MatX One LLM Chip Development
By Amit Chowdhry ● Feb 26, 2026
MatX, an AI chip startup founded by former Google hardware engineers, announced that it has raised a $500 million Series B funding round to complete development and scale manufacturing of its next-generation processor, the MatX One. The funding, one of the largest early-stage raises in the semiconductor industry, was led by Jane Street and Situational Awareness LP, with participation from Spark Capital, Triatomic Capital, Harpoon Ventures, and technology founders including Andrej Karpathy and Stripe co-founders Patrick and John Collison. Strategic hardware partners Alchip and Marvell also took part in the round.