UK AI Chip Company Fractile Completes $720 Million Series C Funding Round

on November 12, according to TechCrunch, UK AI chip startup Fractile has 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 stated that the company's valuation exceeds £5 billion.

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