Anthropic dropped its plan to acquire AI chip startup MatX for approximately $7 billion, opting instead to explore a design partnership with the company. MatX, founded in 2023 by former Google engineers who built the Tensor Processing Units, raised $500 million in a Series B round in February 2026 led by Jane Street and Situational Awareness LP. The MatX One chip, optimized for large language model training and inference, is expected to ship in 2027. Anthropic, which raised $8 billion from Amazon in late 2024 and early 2025, is building its own custom silicon team and investing up to $5 billion in compute partnerships, including deals with AMD. This strategic pivot highlights the growing importance AI labs place on controlling their hardware infrastructure.
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