MatX is a semiconductor startup founded in 2023 by former Google TPU engineers Reiner Pope and Mike Gunter to build specialized chips that it claims will be ten times more effective than Nvidia GPUs at training and running large language models. The company’s processors target both training and inference workloads, promising higher performance and energy efficiency for enterprise AI customers. MatX intends to manufacture its chips through TSMC and projects first commercial shipments in 2027. The founders draw on deep experience in both the hardware and software stacks of Google’s TPU program, giving the company expertise across silicon design and AI workloads. Although MatX has not disclosed revenue or customer numbers, the firm has raised significant capital to fund design, tape-out, and early production. Competitively, MatX positions itself against fellow AI-chip startup Etched, which recently raised funding at a $5 billion valuation. The latest infusion of funds significantly strengthens MatX’s balance sheet for costly semiconductor development and fabrication.

Total raised

$580M

Funding rounds

2

Latest round

Series B

Latest activity

Feb 2026