Krux
February 25, 2026
MatX Raises $500M Series B to Challenge Nvidia
Published: February 25, 2026 at 12:22 AM
Updated: February 25, 2026 at 12:22 AM
100-word summary
AI chip startup MatX just closed a $500 million Series B led by Jane Street and Situational Awareness, with backing from Marvell Technology, Spark Capital, and Stripe's co-founders. The round values the company at several billion dollars and will fund TSMC manufacturing capacity and memory components for its MatX One chip, designed to rival Nvidia on large language model workloads by pairing high-bandwidth memory for training with SRAM for fast inference. MatX aims to finalize chip design this year and begin shipments in 2027, targeting 7B+ parameter models and scalable clusters.
What happened
AI chip startup MatX just closed a $500 million Series B led by Jane Street and Situational Awareness, with backing from Marvell Technology, Spark Capital, and Stripe's co-founders. The round values the company at several billion dollars and will fund TSMC manufacturing capacity and memory components for its MatX One chip, designed to rival Nvidia on large language model workloads by pairing high-bandwidth memory for training with SRAM for fast inference.
Why it matters
MatX aims to finalize chip design this year and begin shipments in 2027, targeting 7B+ parameter models and scalable clusters.