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- Positron
Positron Valuation, Funding & Investors
Positron is valued at $5B as of September 2026.
Last Positron valuation
$5B
Series C · Sep 2026
Last Positron funding round
$500M
Series C · Sep 2026
Cumulative funding Positron raised
$805M
across 4 funding rounds
Key investors in Positron
Resilience Reserve
Valor Equity Partners
Qatar Investment Authority
DFJ Growth
Atreides Management
Banyan Ventures
About Positron
Positron is a provider of specialized hardware accelerators for transformer model inference in generative AI applications. Its chips deliver high-throughput processing with reduced power usage compared to GPU alternatives. The platform supports every model in the Hugging Face Transformers library and exposes an OpenAI-compatible API endpoint. Developers deploy custom-trained models directly onto Positron hardware for edge and cloud deployments in natural language processing and computer vision tasks.
Founded
2023
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$5B (Sep 2026)
Positron Valuation
Positron is currently valued at $5B, based on its Series C in September 2026.
The $500M round was led by James Clark and New Enterprise Associates, with participation from ARENA Private Wealth, Hudson River Trading, Resilience Reserve, Unless, Qatar Investment Authority and 5 other investors.
Positron's valuation has grown 5.0x from $1B at its Series B in February 2026 to $5B in September 2026, across 2 priced rounds.
Positron valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2026 | Series C | $5B |
| Feb 2026 | Series B | $1B |
Positron Funding History
Positron has raised a total of $805M across 4 funding rounds.
Positron's first fundraising round was a $24M seed round in February 2025. The most recent completed round was a $500M Series C in September 2026.
Positron funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2026 | Series C | James Clark (lead); New Enterprise Associates (lead); ARENA Private Wealth; Hudson River Trading; Resilience Reserve; Unless; Qatar Investment Authority; U First Capital; Boardman Bay Capital Management; Cisco Investments; DFJ Growth; Banyan Ventures | $500M | $5B | Positron AI raised $875 million in a September 2026 Series C financing at a $5 billion post-money valuation, structured in two tranches: a $375 million Series C led by NEA, Atreides Management, Valor Equity Partners, Andra Capital, and SemiAnalysis Capital, followed by a Series C-1 of up to $500 million led by NEA and Jim Clark. The later tranche included Cisco Investments, Qatar Investment Authority, DFJ Growth, Banyan Ventures, Hudson River Trading, Resilience Reserve, U First Capital, Unless, Boardman Bay Capital Management, ARENA Private Wealth, 1517 Fund, Fincadia Advisors, Flume Ventures, Helena, Natural Capital, Naver Ventures, and VentureTech Alliance. The financing will support tapeout of its Asimov silicon, a 2 MW+ engineering data center and emulation platform, and ramp production of Titan inference systems. Positron AI is an AI inference hardware company based in Reno, Nevada, focused on energy-efficient silicon and systems for running AI models. |
| Feb 2026 | Series B | Qatar Investment Authority (lead) | $230M | $1B | Positron AI, a Reno, Nevada-based semiconductor startup, develops energy-efficient AI inference hardware, including its Atlas systems and next-generation Asimov chip, targeting superior performance in tokens per watt, latency, and power efficiency compared to Nvidia's H100 and Rubin GPUs. The company claims its Atlas system delivers 3x lower end-to-end latency than comparable H100 setups, addressing critical bottlenecks in AI deployment amid energy constraints. Co-founded by CEO Mitesh Agrawal and CTO Thomas Sohmers, Positron focuses on purpose-built hardware for generative AI inference, optimizing total cost of ownership for Transformer-based models. On February 4, 2026, Positron closed an oversubscribed $230 million Series B funding round at a post-money valuation exceeding $1 billion, bringing total capital raised to over $300 million. The round was co-led by ARENA Private Wealth, Jump Trading, and Unless, with strategic investments from Qatar Investment Authority (QIA), Arm Holdings, and Helena; existing backers like Valor Equity Partners and Atreides Management also participated. QIA's involvement aligns with Qatar's push into sovereign AI infrastructure, highlighted at Web Summit Qatar. Funds will accelerate scaling of Atlas system production, tape-out of the Asimov chip in late 2026, and production ramp in early 2027. Jump Trading's co-lead followed successful testing of Atlas, validating Positron's technology. The investment reflects surging demand for Nvidia alternatives as hyperscalers seek power-efficient chips for AI workloads, positioning Positron to challenge market dominance amid global compute and energy shortages. |
| Jul 2025 | Series A | Atreides Management (lead); DFJ Growth (lead); Valor Equity Partners (lead); Resilience Reserve; Unless; Flume Ventures; 1517 Fund | $52M | - | Positron Corporation (OTCMKTS: POSC) is a US-based nuclear medicine and cardiac PET imaging company that reported $350,452 in revenues for the nine months ended September 30, 2025, with a net loss of $3.7 million during that period and an accumulated deficit of $138 million. The company sells PET-CT scanners including its Attrius and NeuSight systems to cardiology groups and healthcare providers. Positron Energy Limited (PEL) is an Indian energy company that reported revenue of ₹33,681.91 lakh in FY2024-25, representing 150% growth year-over-year, driven by expanding natural gas supply volumes and strong order execution. |
| Feb 2025 | Seed | Resilience Reserve; Atreides Management; Flume Ventures; Valor Equity Partners; Banyan Ventures | $24M | - | Positron is a Reno, Nevada-based AI chip startup specializing in energy-efficient AI inference hardware, offering U.S.-designed, manufactured, and assembled chips as a cost-effective alternative to Nvidia's GPUs. Their first-generation Atlas systems claim 3.5 times better performance per dollar and power efficiency than Nvidia H100 for inference, with compatibility for Hugging Face, OpenAI, and trillion-parameter models, enabling 70% faster inference and 66% lower power use. The company, founded in 2023 by CTO Thomas Sohmers and chief scientist Edward Kmett, is already shipping products to U.S. data centers and neo-clouds. On February 11, 2025, Positron raised $23.5 million from investors including Flume Ventures, Valor Equity Partners, Atreides Management, and Resilience Reserve, to scale production of these chips and accelerate growth toward second-generation accelerators in 2026. New CEO Mitesh Agrawal, formerly at Lambda where he helped grow annualized revenue from $500K to $500M and raised over $1B, leads the expansion. The funding supports domestic manufacturing in Arizona, potentially TSMC's fab, amid geopolitical tensions. This round positions Positron to transform Reno into an AI hub, backed by Nevada leaders like Governor Joe Lombardo and EDAWN, creating jobs and emphasizing energy efficiency to address data center power strains. A later oversubscribed $230M Series B at over $1B post-money valuation was co-led by ARENA Private Wealth, Jump Trading, Unless, with participation from QIA, Arm, Helena, and existing investors including Valor, Atreides, Resilience Reserve, Flume Ventures; it funds roadmap to Asimov silicon tape-out in late 2026. |
Who has invested in Positron?
16 investors have backed Positron across its funding rounds, including Resilience Reserve, Valor Equity Partners, Qatar Investment Authority, DFJ Growth, Atreides Management and Banyan Ventures.
Lead investors include James Clark, New Enterprise Associates, Qatar Investment Authority, Atreides Management, DFJ Growth and 1 other investor.
Positron Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Feb 2025 | ||
| 2 | Participant | Jul 2025 | ||
| 2 | Lead | Feb 2025 | ||
| 2 | Lead | Feb 2026 | ||
| 2 | Lead | Jul 2025 | ||
| 2 | Participant | Feb 2025 | ||
| 2 | Lead | Feb 2025 | ||
| 2 | Participant | Feb 2025 | ||
| -- | 1 | Participant | Sep 2026 | |
| 1 | Participant | Sep 2026 | ||
| 1 | Lead | Sep 2026 | ||
| 1 | Lead | Sep 2026 | ||
| 1 | Participant | Sep 2026 | ||
This data is available for Pro users. Sign up to see all 16 Positron investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialPositron Competitors
Positron competitors include listed companies like Core Scientific and Presight AI, and private ones like Ricursive Intelligence, SambaNova, Fluidstack and Lightmatter.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $4B | - | ||
| Private | $100M | - | $11B | - | ||
| Private | $180M | - | $18B | - | ||
| Publicly listed | $319M | ($211M) | $5.5B | 13.9x | ||
| Publicly listed | $825M | $214M | $5.7B | 5.4x | ||
| Private | $50M | - | $4.4B | - |
Positron Public Comps
Positron is still privately-owned, but its public comps include Core Scientific, Presight AI, TOTO, Ionic Digital, D-Wave Quantum, ChronoScale, Xanadu, Affle 3i, Ncino and Haizhi.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $319M | ($211M) | 25.2x | 13.9x | (38.1x) | 50.7x | |||
| $825M | $214M | 6.3x | 5.4x | 24.4x | 20.8x | |||
| $4.7B | $597M | 1.2x | 1.1x | 9.4x | 9.4x | |||
| $141M | ($248M) | 25.4x | - | (14.5x) | - | |||
| $25M | ($373M) | 252.9x | 166.4x | (16.7x) | (56.5x) | |||
| $72M | $21M | 42.5x | - | 147.6x | - | |||
| $3M | ($47M) | 629.3x | 281.8x | (44.6x) | (24.7x) | |||
| $282M | $67M | 7.4x | 6.7x | 31.3x | 29.5x | |||
This data is available for Pro users. Sign up to see all Positron competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Positron
| When was Positron founded? | Positron was founded in 2023. |
| Where is Positron headquartered? | Positron is headquartered in Reno, NV, United States. |
| Is Positron publicly listed? | No, Positron is a private, VC-backed company. |
| What is Positron's valuation? | Positron was last valued at $5B in its Series C in September 2026. |
| How much funding has Positron raised? | Positron has raised $805M across 4 funding rounds. |
| What was Positron's last funding round? | Positron's last funding round was a $500M Series C in September 2026, led by James Clark and New Enterprise Associates. |
| Who are Positron's investors? | Positron's investors include Resilience Reserve, Unless, Atreides Management, Qatar Investment Authority, DFJ Growth, Flume Ventures, Valor Equity Partners, Banyan Ventures, ARENA Private Wealth, Hudson River Trading and 6 others. |
| Which companies are comparable to Positron? | Companies comparable to Positron include Ricursive Intelligence, SambaNova, Fluidstack, Core Scientific, Presight AI and Lightmatter. |
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