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Jeff Bezos and UK back CuspAI in 2 billion pound AI materials push
CuspAI says it has raised $450 million in the round, valuing the two-year-old startup at $2.6 billion as it targets AI software to speed discovery and reduce reliance on rare metals used in chips.
Amazon founder Jeff Bezos and the UK government have invested in CuspAI, a Cambridge-based artificial intelligence startup seeking to build software to identify and develop new materials for chipmakers. The project is backed by a 2 billion pound investment effort, aimed at accelerating research for next-generation technology.
According to the Guardian Business, CuspAI has raised $450 million, valuing the two-year-old company at $2.6 billion. The startup plans to cut research timelines and reduce or eliminate the use of rare metals, including iridium and ruthenium, in chip supply chains.
CuspAI has launched the AI Materials Foundry, a coalition of more than 48 technology companies, industrial firms, and research facilities. The coalition includes Nvidia, Meta Platforms, and Hyundai, and aims to use advanced general-purpose AI models to discover materials that could improve energy networks and batteries and support semiconductor progress.
The Guardian Business reports CuspAI says its Series B funding will help it expand internationally, including opening a new office in Singapore and adding staff in Cambridge, Amsterdam, and Berlin.