David Gurra

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AI startup MATX has raised more than $500 million to build hardware to compete with NVIDIA.

The chip company was founded by two alumni of Google's semiconductor business, and its aim is to make a product specifically designed to run large language models.

Co-founder and CEO Rainer Pope joins us now.

I think we should get into the specifics, but my goodness, $500 million is quite a large Series B. What do you need that level of capital for, and what does it reflect?

Yeah, so I mean, I would say, very happy to be here.

And thank you.

One of the really what it reflects is on the one hand, very strong confidence from from some of our lead investors in the product we've, this is this is from Jane Street and situational awareness.

have led our round.

Very strong, on Jane Street's side, they're absolute technical experts.

They understand the kind of product we're doing.

And then situational awareness, that's Leopold Aschenbrenner's fund.

He wrote the book on AGI, and he really understands where this whole space is going.

What we are looking to do with this product and with this money, firstly I would say the demand for LLM compute is just insatiable.

All of the Frontier labs are looking at where this space is going and they're all concerned, I'm gonna run out of silicon, I won't be able to serve all the demand

So our goal overall has been to make the highest throughput per square millimeter of silicon that any product has.

This is about computational density.

That's right.