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Off the Wire Press Releases Funding will support the Asimov silicon tapeout and Titan system production ramp, following Positron’s 50-plus-rack Atlas deployment at Oracle Cloud Infrastructure RENO, Nev., Sept. 10, 2026 — Positron AI today announced an $875 million Series C financing at a $5 billion post-money valuation. The round was co-led by NEA, Atreides Management, Valor Equity Partners, Andra Capital, Dylan Patel’s SemiAnalysis Capital and Jim Clark, the founder of Silicon Graphics and Netscape. As part of the financing, Forest Baskett of NEA, Gavin Baker of Atreides Management, Thomas Jermoluk from Jim Clark Office and Dylan Patel will join Positron’s board of directors. AI’s center of gravity is shifting from training models to running them. Every agent, assistant, and copilot runs on inference, and serving that demand at scale is increasingly constrained by memory capacity, memory bandwidth, and power. Positron builds memory-first inference systems designed around those constraints. Its next-gen systems realize more than 90 percent of their available memory bandwidth, are built on commodity LPDDR5X memory that sidesteps constrained HBM and CoWoS supply chains, and deliver leading tokens per dollar and tokens per watt. Because the architecture is highly energy efficient, Positron’s products can be deployed in air-cooled or liquid-cooled data centers operating at varying rack densities. “Speed matters in this market, both in how quickly we ship new generations of silicon and in how quickly they reach customers. Deploying Atlas at scale taught us an enormous amount about what inference customers actually need, and we have carried those lessons directly into Asimov and Titan. Our focus now is to tape out Asimov, bring Titan to production, and scale manufacturing to meet the demand in front of us. This financing gives us the resources to do exactly that,” said Mitesh Agrawal, CEO of Positron AI. Positron is deploying more than 50 racks of Atlas, its first-generation inference system, at Oracle Cloud Infrastructure. Parasail, a key partner, utilizes that capacity to power its own inference service. Additional Atlas production customers include Jump Trading and i3d.net. The Round and What the Capital Funds The financing was raised in two tranches. The Series C, $375 million at a $3.5 billion pre-money valuation, was co-led by NEA, Andra Capital, Atreides Management, Valor Equity Partners, and Dylan Patel’s SemiAnalysis Capital. The Series C-1, up to $500 million, was led by NEA and Jim Clark. Additional investors include DFJ Growth, Qatar Investment Authority (QIA), Resilience Reserve, Arena Private Wealth, Natural Capital, Helena, 1517 Fund, Flume Ventures, Unless, Boardman Bay Capital Management, Fincadia Advisors, Banyan Ventures and U First Capital alongside strategic investors VentureTech Alliance, Hudson River Trading, Cisco Investments and Naver Ventures. The financing will fully fund the tapeout of Asimov, Positron’s next-generation silicon; the bring-up of a 2 MW+ engineering data center and emulation platform; and the production ramp of Titan, Positron’s next generation inference system, including LPDDR5X supply commitments, production capacity, system integration, and go-to-market expansion. Asimov tapes out on TSMC N3P at the end of 2026, with production in the second half of 2027, and pairs Positron’s compute architecture with 288 GB to 2,304 GB of memory per chip. Titan combines four to eight Asimov chips into a single system, designed to serve models beyond 16 trillion parameters and context windows beyond 10 million tokens in a single node, scaling to thousands of nodes. “The Positron inference architecture balances compute, the enormous required memory bandwidth and extraordinarily large context and weight storage. Its optimized power consumption, cost and density is near ideal for inference requirements of the next evolution of Frontier large language models with trillions of parameters,” said Jim Clark, Silicon Graphics Founder and Netscape Co-Founder About Positron AI Positron AI builds hardware and software to make AI inference dramatically cheaper and more energy efficient. The company’s shipping product, Atlas, is deployed at hyperscaler scale today, and its next-generation custom silicon, Asimov, tapes out in late 2026 with production in the second half of 2027. Asimov powers Titan, a multi-terabyte-memory inference system for long-context and next-generation AI workloads. Positron’s energy-efficient architecture allows its systems to be deployed in air-cooled or liquid-cooled data centers at varying rack densities, without dependence on constrained HBM or CoWoS supply chains. Learn more at positron.ai. Source: Positron AI
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