AI chip startup Fractile hits $7 billion valuation in funding round

British AI chip startup Fractile has raised $720 million in its latest funding round, bringing its value to $7 billion. The UK government also supported the deal, a person involved told Reuters. Fractile, which is based in London and Bristol, is now one of Britain’s most valuable tech startups. Thrive Capital, Founders Fund, Lightspeed and Redpoint led the funding round, Reuters reported. Other investors included Google’s investment arm CapitalG, BlackRock, DST Global, Elad Gil, Balderton and SV Angel. Fractile also received investment from the UK government via its Sovereign AI fund and the British Business Bank. This gives the government a share in the company. Fractile’s product category Fractile makes chips designed to help AI models answer questions and complete tasks after training.

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