AI chip startup Positron completed a $875 million financing round at a valuation of $5 billion, led by NEA and others

According to The Wall Street Journal, Positron, a startup focused on designing hardware to help AI models run faster, has raised $875 million at a valuation of $5 billion, significantly increasing the company's value over the past six months.

This round of financing was co-led by venture capital firms NEA, Atreides Management, Valor Equity Partners, Andra Capital, analyst Dylan Patel's SemiAnalysis Capital, and Netscape co-founder Jim Clark. Positron raised $230 million in its most recent funding round in February of this year, at that time valued at $1 billion.

Positron stated that it has delivered about 50 units of the previous generation server rack Atlas to Oracle, with clients including financial firm Jump Trading and AI company Parasail. Positron is trying to gain an advantage in the crowded chip industry by pushing its chips to market as quickly as possible.