Fractile, a chip-first frontier AI company, has raised a $720 million Series C round of funding.
The round was led by Thrive Capital, Founders Fund, Lightspeed Venture Partners and Redpoint.
The company describes itself as building the hardware to power increasingly capable models.
Other new investors include Dragoneer, DST Global, Elad Gil, Blackrock, BCV, T.Rowe, CapitalG, Georgian, Shopify, Balderton, SV Angel, 20VC, Nebular, SovAI, the British Business Bank and Entropy.
Returning investors to the round include Accel, Conviction, Cocoa, Factorial, Felicis, Gigascale and Kindred.
Fractile said it was founded on the view that the time taken to produce useful outputs would limit the impact of increasingly capable AI systems.
It said it is taking a full-stack approach to building chips and systems designed to help frontier models generate outputs faster and at greater scale.
One element of this approach is stacked DRAM.
Fractile packages DRAM directly on top of logic, with the aim of delivering higher memory bandwidth than HBM alongside more capacity than SRAM.
The company is hiring talent across the stack in its offices in London, Bristol, Palo Alto and Taipei.