Positron Secures $230 Million in Series B Funding to Challenge Nvidia's AI Chip Dominance
Semiconductor startup Positron raised $230 million in a Series B funding round to accelerate the deployment of its high-speed memory chips, a crucial component for AI workloads, according to TechCrunch. The funding round included participation from Qatar Investment Authority (QIA), the country's sovereign wealth fund, which is increasingly focused on investing in AI infrastructure.
The Reno-based startup's Series B comes as hyperscalers and AI firms seek to reduce their reliance on Nvidia, the longstanding leader in AI chips, TechCrunch reported. OpenAI, despite being one of Nvidia's largest customers, is reportedly unsatisfied with some of the firm's latest AI chips.
In other tech news, Adobe reversed its decision to discontinue Adobe Animate, The Verge reported. The company stated in an FAQ that Animate would now be in maintenance mode and that it has no plans to discontinue or remove access to the app. While Animate will still receive ongoing security and bug fixes and will be available for new and existing users, it will not receive new features. Many creators had previously expressed frustration after Adobe initially announced its plans to discontinue the software.
Meanwhile, AMD hinted that Microsoft could launch its next-generation Xbox console in 2027, according to The Verge. AMD CEO Lisa Su stated that the development of Microsoft's next-gen Xbox, featuring an AMD semi-custom SoC, is progressing well to support a launch in 2027. Microsoft confirmed last year that it is working on a next-gen Xbox console in partnership with AMD.
In other developments, Y Combinator (YC) announced that its startups can now receive investment in stablecoin, TechCrunch reported. All startups accepted into YC will soon have the option to receive their seed checks via stablecoins, crypto YC partner Nemil Dalal told The Block. YC's standard deal involves investing $500,000 into startups accepted into its program in exchange for 7% of their companies. The deal is now hitting the blockchain (Base, Solana, and Ethereum), starting with the upcoming spring batch. Dalal said that stablecoin transfers are often more effective, specifically for founders working in emerging markets.
The Minneapolis tech community is facing challenges as U.S. immigration agents have escalated their crackdown in the city, according to TechCrunch. Eight Minneapolis-based founders and investors told TechCrunch that they have put much of their work on hold and are now focused on their communities, volunteering at churches, and helping buy food. "There's a lot of commonality between how a teacher is reacting right now and how a tech professional is reacting," Scott Burns, an investor in the area, told TechCrunch. He added that people are very fatigued. Burns is going to church more often to help pack food to deliver.
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