Positron AI announced from Reno, Nevada on September 10, 2026 that it raised $875 million at a $5 billion post-money valuation: a $375 million Series C at a $3.5 billion pre-money valuation plus a Series C-1 of up to $500 million. Leads were NEA, Atreides Management, Valor Equity Partners, Andra Capital, SemiAnalysis Capital (Dylan Patel) and Jim Clark, with DFJ Growth, Qatar Investment Authority, Hudson River Trading, Cisco Investments and Naver Ventures among co-investors. Forest Baskett, Gavin Baker, Thomas Jermoluk and Dylan Patel join the board.
The money funds Positron's next chip, Asimov, which it says will tape out at the end of 2026 on TSMC's N3P process with production in the second half of 2027, carrying 288GB to 2,304GB of memory per chip. Titan, its next system, combines four to eight Asimov chips and targets models with more than 16 trillion parameters. Its first-generation Atlas system is deployed in more than 50 racks at Oracle Cloud Infrastructure, with Parasail, Jump Trading and i3d.net named as production customers.
Positron is one of several inference-chip challengers raising large rounds in 2026 on the argument that serving models, not training them, is where most future compute spend goes, and that memory capacity per chip is the bottleneck for very large models. "Speed matters in this market," CEO Mitesh Agrawal said.
The amounts, valuation and deployment figures are from Positron's release. Asimov has not taped out; its memory figures, the Titan model-size target and the 2027 production timing are company plans, not demonstrated results.