Fractile, a UK-based startup in London and Bristol that develops artificial intelligence inference chips, raised $720 million in a Series C funding round. The deal valued the company at $7 billion post-money, compared with approximately $1 billion to $1.1 billion six months earlier. Thrive Capital, Founders Fund, Lightspeed and Redpoint led the round, with CapitalG, BlackRock, the Sovereign AI Venture Fund and the British Business Bank also taking part. The company says its memory-first architecture can cut large language model operating costs by up to 90%, and it plans to begin deploying its systems in data centers in 2027.
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