TechCrunch reports Fractile raises $720 million Series C for AI chips

According to TechCrunch, British AI chip startup Fractile has raised a $720 million Series C, with backing from Britain’s Sovereign AI Fund. The round was led by Thrive Capital, Founders Fund, Lightspeed Venture Partners and Redpoint, and the UK government said the deal is meant to give Britain a bigger stake in hardware for its future economy. The company says it is building a full-stack system that pairs chips with a machine learning compiler, and CEO Walter Goodwin said the funding should help Fractile ship its first chips and systems next year.