MatX
MatX is an AI Accelerators company founded in 2022 and based in Mountain View, USA. It has raised $605M in total funding, most recently a Series B in 2026.
MatX was founded in 2022 by two former Google engineers who led opposite sides of TPU development: Reiner Pope wrote AI software for Google's TPUs, and Mike Gunter designed the TPU hardware. Together they set out to build silicon from scratch for one workload — training and running large language models — rather than adapting general-purpose GPUs. The MatX One chip combines partitionable systolic arrays with hybrid SRAM/HBM storage to maximise FLOPS for training and prefill, while optimising latency and long-context support for decode and reinforcement learning. The company raised a $25M seed in early 2024 backed by AI angels Nat Friedman and Daniel Gross, followed by an $80M Series A led by Spark Capital in November 2024 at a ~$300M post-money valuation. In February 2026 it closed a $500M Series B led by Jane Street and Leopold Aschenbrenner's Situational Awareness fund, with participation from Marvell Technology, NFDG, Spark Capital, and Stripe co-founders Patrick and John Collison. Chips are manufactured at TSMC with initial customer shipments planned for 2027. Headquarters moved to a 43,000 sq ft building in Mountain View, CA, formerly occupied by Waymo.
MatX is one of the most-funded pure-play LLM-chip startups — $605M raised in under three years — with a product claim of 10× GPU parity on training throughput backed by credible ex-Google TPU architects. If the MatX One chip ships on its 2027 timeline, it could provide hyperscalers and AI labs a cost-competitive alternative to Nvidia H100/B200 clusters for LLM training.
matx.com ↗·AI Accelerators·USA·private 
