AI Chip Startup Raises $230 Million From Arm Holdings, Qatar

AI chip startup Positron, which is trying to compete with Nvidia Corp., raised $230 million in a funding round from investors including Arm Holdings Plc and the Qatar Investment Authority.

The round values the company at more than $1 billion, including funds raised, Chief Executive Officer Mitesh Agrawal said in an interview. The round was co-led by Arena Private Wealth, formerly OCM Private Wealth, Positron customer Jump Trading, and Unless. Helena, as well as previous investors including Valor Equity Partners, Atreides Management and DFJ Growth, also participated.

Positron, based in Reno, Nevada, is trying to compete with Nvidia by offering energy-efficient ...