Positron AI has raised $875 million in a Series C for AI-inference hardware at a $5 billion post-money valuation. The company confirmed in a post on X that CEO Mitesh Agrawal discussed the financing in a live TBPN interview.
The round comprises a $375 million Series C priced at a $3.5 billion pre-money valuation and a follow-on Series C-1 of up to $500 million, according to a company release. NEA, Atreides Management, Valor Equity Partners, Andra Capital and SemiAnalysis Capital co-led the Series C. NEA and Jim Clark anchored the C-1.
The proceeds are intended for the tapeout of Positron's Asimov chip, a 2-megawatt-plus engineering data center and emulation platform, and the production ramp of its Titan inference system. Agrawal said the company needs to move quickly both in shipping new silicon and getting it to customers.
That spending plan puts the funding behind a hardware schedule with dates attached. Asimov is scheduled to tape out on TSMC's N3P process by the end of 2026, with production targeted for the second half of 2027. The chip is designed to carry 288 GB to 2,304 GB of memory per chip using LPDDR5X memory.
Titan is planned as a node with four to eight Asimov chips, targeting models beyond 16 trillion parameters and context windows above 10 million tokens. Positron's current flagship, Atlas, is an air-cooled FPGA-based inference server.
The Reno, Nevada-based company was founded in 2023 by Thomas Sohmers, Edward Kmett and Barrett Woodside. Before this round, it raised roughly $23.5 million in seed funding, a $51.6 million Series A in July 2025 and a $230 million Series B in February 2026 at a valuation above $1 billion.
Positron has deployed more than 50 Atlas racks into Oracle Cloud Infrastructure for inference workloads, according to EE Times. The company has also named Jump Trading, Parasail, Cloudflare and Crusoe as customers or proof-of-concept partners.
