Positron AI has closed an $875M Series C at a $5B post-money valuation, money it will spend taking custom inference silicon to market.
The round was co-led by NEA, Atreides Management, Valor Equity Partners, Andra Capital, SemiAnalysis Capital and Netscape founder Jim Clark. Dylan Patel of SemiAnalysis Capital and Thomas Jermoluk of Clark’s office are among the new board members.
Positron’s bet is that AI workloads are shifting from training toward running models in production, where memory capacity, bandwidth and power set the ceiling rather than raw math throughput. Its Atlas systems pair a memory-first architecture with commodity LPDDR5X, sidestepping constrained HBM and CoWoS advanced packaging supply chains. The company claims the design reaches over 90 percent of available memory bandwidth and fits both air-cooled and liquid-cooled halls.
The Atlas platform is already running at Oracle Cloud Infrastructure, where the company has more than 50 racks in service for buyers that include the trading firm Jump Trading, hosting provider i3d.net and inference seller Parasail.
The new capital funds tapeout of Asimov, Positron’s next-generation chip, on TSMC’s N3P process at the end of 2026, with volume production expected in the second half of 2027. Each Asimov part is designed to carry between 288GB and 2,304GB of memory. The money also covers a 2-megawatt-plus engineering data center and the production ramp of the Titan inference system.
That valuation followed an earlier $375M tranche priced at $3.5B pre-money and a Series C-1 of up to $500M led by NEA and Clark.
