Positron AI Raises $875M at $5B Valuation

Positron AI has raised $875 million in Series C financing at a $5 billion post-money valuation, sharply increasing its value from about $1.06 billion in February. The funding, structured as a $375 million Series C and a follow-on tranche of up to $500 million, was co-led by NEA, Atreides Management, Valor Equity Partners, Andra Capital, SemiAnalysis Capital and Netscape co-founder Jim Clark, with additional participation from investors including Qatar Investment Authority, Cisco Investments and Naver Ventures. The Reno, Nevada-based company develops memory-focused AI inference hardware intended to reduce the cost, power use and supply-chain dependence associated with running trained AI models. Proceeds will fund the late-2026 tapeout of its Asimov chip on TSMC’s N3P process, a 2-megawatt-plus engineering and emulation facility, and the production ramp of Titan systems, which will combine four to eight Asimov chips for extremely large models and long context windows. Positron says more than 50 racks of its current Atlas system are deployed at Oracle Cloud Infrastructure, supporting customers including Parasail, Jump Trading and i3d.net, as it targets Asimov production in the second half of 2027.