UK AI chip company Fractile completes $720 million Series C funding round

According to TechFlow, on November 12, as reported by TechCrunch, UK AI chip startup Fractile completed a $720 million Series C funding round, with participation from the UK Sovereign AI Fund.

The round was led by Thrive Capital, Founders Fund, Lightspeed Venture Partners, and Redpoint. The UK government said the company is valued at more than £5 billion.

In addition to developing chips, Fractile is building a machine learning compiler to improve the running speed of large models on its chips. CEO Walter Goodwin said the new funding will support the company in delivering its first chips and systems next year.

Source: TechFlow