MatX Raises $500M in Series B Funding

The chip developer will complete MatX One development and scale manufacturing, targeting tapeout within a year of the announcement.

Round size
$500M
Stage
Series B
Headquarters
United States
Announced
Feb 24, 2026

Hardware designed around large models

MatX One uses a splittable systolic array to handle different matrix sizes efficiently. Its design combines SRAM for low latency with high-bandwidth memory for long contexts, focusing on the workloads used by frontier model developers.

Moving from design to manufacturing

The Series B supports the final stages of development and rapid manufacturing expansion. MatX had grown to a 100-person team; investors include financial funds, founders and semiconductor supply-chain companies Alchip and Marvell.

Sources

  1. MatX: funding announcement
  2. TechCrunch: Series B announcement
  3. Crunchbase News: February Series B
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