UK-Backed AI Chip Startup Fractile Hits $7 Billion Valuation After $720 Million Raise

TLDR: Fractile raised $720 million in a Series C round at a $7 billion valuation, per a person in the deal.  Thrive Capital, Founders Fund, Lightspeed, and Redpoint led the round, joined by CapitalG and BlackRock.  Britain’s Sovereign AI fund and the British Business Bank took part, adding government backing.  The London- and Bristol-based firm [...]

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