MatX has just successfully raised 500 million USD in the Series B funding round. The funding round is led by Jane Street and the Situational Awareness fund, with the participation of Marvell Technology, Spark Capital and 2 co-founders of Stripe.
The company was founded in 2023 by Reiner Pope and Mike Gunter, both former hardware engineers of Google. Previously, they participated in the development and design of TPU chips, an AI processor line developed by Google itself.
MatX aims to build a processor capable of training large language models with significantly higher performance than Nvidia's current GPU. According to the company's statement, performance may be many times higher than current solutions.
The new funding round took place more than 1 year after MatX raised about 100 million USD in Series A. At that time, the company was valued at over 300 million USD.
This investment will be used to cooperate in chip production with TSMC (one of the largest and most important chip manufacturers in the world). MatX is expected to start product delivery in 2027.
The emergence of startups like MatX shows that the AI chip development race is heating up, as many companies are looking for ways to reduce dependence on Nvidia's GPUs.
