DEVELOPING: Ricursive Intelligence, an AI chip startup, has soared to a $4 billion valuation after raising $300 million in a Series A round led by Lightspeed. The round comes just two months after its launch.

Ricursive aims to revolutionize AI chip design using AI. Their system will create silicon substrates and accelerate chip improvements. Founders claim this will lead to AGI.

The company was founded by ex-Google researchers Anna Goldie and Azalia Mirhoseini. Their AlphaChip design was used in Google's TPUs.

Total funding now stands at $335 million. Investors include DST Global, NVentures, and Sequoia. Ricursive is distinct from Recursive, another AI startup.

This is a developing story. More updates to follow.