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London-based AI inference chip company Fractile raised $720M in Series C funding at a $7B valuation. Thrive, Founders Fund, Lightspeed, and Redpoint co-led the round, with participation from Felicis, CapitalG, and Dragoneer Investment Group. The company uses funds to expand operations and development efforts for its AI chips.
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Summary by ByteBrief

Fractile Raises $720M for AI Chips

London-based AI chip startup Fractile raised $720M from Thrive, Founders Fund, and others, sources say at a $7B post-money valuation, up from ~$1.1B in May (George Hammond/Financial Times)
Fractile confirms £540m AI chip raise