Fractile raises $720M to advance AI chip development

The London and Bristol startup now carries a $7 billion valuation and is still building toward its first commercial chips Fractile, a UK startup building chips designed to run AI models, has closed a $720 million Series C round at a post-money valuation of $7 billion. The company has not shipped a production chip yet. Investors paid up anyway, which says a lot about where the AI hardware market’s attention has drifted. The round, dated November 11, 2026, lands about six months after Fractile’s previous raise. In May 2026, Fractile raised a $220 million Series B. That round valued the company at approximately $1.1 billion. The new Series C puts it at $7 billion. That is more than six times the earlier figure, in roughly half a year.

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