Venture Capital

A macro photograph of computer memory modules and their contacts.

The $875m Bet Is That Inference Is a Memory Problem

Positron raised $875m on Thursday at a $5bn valuation, having been worth about $1.06bn in February. Its chips are built around memory capacity and bandwidth rather than raw compute, using commodity LPDDR5X rather than the high-bandwidth memory that constrains everybody else. That choice is the entire thesis.

By Alison Acosta 8 hours ago

Close view of a semiconductor die and its packaging.

The Numbers

Two Thirds of the Chip Money Went to Running Models, Not Training Them

Twelve disclosed AI chip funding rounds raised $5.37bn between late January and mid-August. Eight of them, and about 67 percent of the capital, went to companies building for inference rather than training. Venture money is a forecast, and this one is about where the permanent cost of AI is going to sit.

By Alison Acosta September 8, 2026

Venture Capital

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The $875m Bet Is That Inference Is a Memory Problem

Two Thirds of the Chip Money Went to Running Models, Not Training Them