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Neurophos Secures $110 Million Series A to Launch Exaflop-Scale Photonic AI Chips

Neurophos Secures $110 Million Series A to Launch Exaflop-Scale Photonic AI Chips

February 6, 2026 Craig Etkin

AUSTIN, Texas, Jan. 22, 2026 /PRNewswire/ — Neurophos, a leader in photonic AI chip technology, has raised $110 million in an oversubscribed Series A round, bringing total funding to $118 million. The round was led by Gates Frontier, with participation from M12 (Microsoft’s Venture Fund), Carbon Direct Capital, Aramco Ventures, Bosch Ventures, Tectonic Ventures, Space Capital, and others.

“Modern AI inference demands monumental amounts of power and compute,” said Dr. Marc Tremblay, Corporate Vice President and Technical Fellow of Core AI Infrastructure at Microsoft. “We need a breakthrough in compute on par with the leaps we’ve seen in AI models themselves, which is what Neurophos’ technology and high-talent density team is developing.”

As AI adoption accelerates, data centers face critical limitations in power and scalability. Traditional silicon-based GPUs cannot meet growing computational demands, resulting in increased costs and energy consumption. Neurophos addresses these challenges with a proprietary optical processing unit (OPU) that integrates over one million micron-scale optical processing elements on a single chip. This innovation delivers up to 100x the performance and energy efficiency of current leading chips, offering a practical, drop-in replacement for GPUs in data centers.

“Moore’s Law is slowing, but AI can’t afford to wait. Our breakthrough in photonics unlocks an entirely new dimension of scaling, by packing massive optical parallelism on a single chip,” says Dr. Patrick Bowen, CEO and Co-Founder of Neurophos. “This physics-level shift means both efficiency and raw speed improve as we scale up, breaking free from the power walls that constrain traditional GPUs.”

Neurophos’ breakthrough lies in the development of micron-scale metamaterial optical modulators—a 10,000x miniaturization over previous photonic elements—making large-scale, manufacturable photonic computing possible for the first time. The result is a new class of AI accelerator: ultra-fast, energy-efficient, and adaptable to future AI workloads.

“As the AI industry grapples with a surge in demand that tests our ability to satisfy with compute and power, disruptive approaches to compute may open routes to sustained or accelerated systems scaling that will be needed before the end of the decade. With their approach to hyper-efficient optical computation, the Neurophos team have advanced swiftly from a working proof of concept towards a realistic plan to deliver products on a timeline we can underwrite and believe in,” said Michael Stewart, Managing Partner at M12, Microsoft’s Venture Fund.

“From the start, we backed Neurophos because we believed the future of AI was bound by physics, not by algorithms,” said Chris Alliegro, Managing Partner at MetaVC Partners. “Neurophos is addressing the only problem that really matters for the future of AI: the limits imposed by silicon. Their optical architecture provides the foundation for the next generation of machine intelligence.”

Neurophos’ technology enables significant reductions in power consumption, supporting the next generation of AI infrastructure without the need for exponential increases in energy or physical resources. The company’s advancements promise to make AI more accessible and cost-effective across industries.

“Reducing chip-related emissions is now as essential as delivering compute,” said Jonathan Goldberg, CEO of Carbon Direct Capital. “Neurophos offers step-function gains in both. This is the kind of next-generation AI infrastructure companies urgently need as their compute demands skyrocket.”

The new funding will accelerate delivery of Neurophos’ first integrated photonic compute system, including datacenter-ready OPU modules, a full software stack, and early-access developer hardware. The company is expanding its Austin headquarters and opening a San Francisco engineering site to meet early customer demand.

Additional investors include DNX Ventures, Geometry, Alumni Ventures, Wonderstone Ventures, MetaVC Partners, Morgan Creek Capital, Silicon Catalyst Ventures, Mana Ventures, Gaingels, and others. Cooley LLP serves as legal counsel.

About Neurophos
Neurophos Inc. is an Austin-based semiconductor company developing high-performance, energy-efficient photonic AI inference chips. Founded by Dr. Patrick Bowen and Dr. Andrew Traverso, the team includes industry veterans from NVIDIA, Apple, Samsung, Intel, AMD, Meta, ARM, Micron, Mellanox, Lightmatter, and more. For details, visit www.neurophos.com.

SOURCE Neurophos

Copyright © 2026 Cision US Inc.


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Fabric, a leader in care delivery and consumer experience, has announced the acquisition of UCM Digital Health (UCM), a leading digital health and telehealth provider. The acquisition expands Fabric's services to about 400 new employer and payer customers, adding one million covered lives. Fabric now serves over 75 health systems, 30,000 employers, and over 100 million lives across all 50 states. This marks Fabric’s fifth acquisition in less than three years, underscoring its strategic build-and-buy approach to unify the fragmented digital health landscape. By expanding its footprint in the payer and employer markets, Fabric is extending its comprehensive care access and experience platform paired with its nationwide provider network to streamline virtual-first care, expand access, improve efficiency and outcomes, and reduce both medical and overhead costs.

In a statement Aniq Rahman, CEO and Founder of Fabric said, "For Fabric, it’s about making healthcare more accessible.” “We’ve already made meaningful progress in the payer and employer markets, and this acquisition allows us to deepen that impact. By bringing more payers and employers onto our platform, we’re creating a connected experience that streamlines workflows, reduces friction and costs, and ultimately drives better outcomes for members and our partners." Moving forward, the 400 payers and employers served by UCM will transition to Fabric’s expanded technology and clinical network, gaining access to enhanced omnichannel patient experiences that improve efficiency before, during, and after virtual care. Through Fabric’s nationwide provider network, patients can receive a treatment plan for most common medical conditions in just five minutes or connect with a behavioral health provider within three days.

Fabric is a health tech company on a mission to solve healthcare’s access problem. Fabric’s integrated care platform offers personalized guidance, streamlines workflows, and unifies experiences across virtual and in-person care. Its solutions support care delivery from a patient’s first search to post-treatment follow-up using its proprietary Hybrid AI that combines conversational AI and physician-built clinical logic. Together with a nationwide network of medical and behavioral health providers, Fabric is realizing its vision of providing care for everyone, everywhere. The company advances connected delivery that improves access, outcomes, and equity across every stage of the patient journey. Today, Fabric serves 30,000 employers, payers, and enterprise organizations, including OSF HealthCare, MUSC Health, Highmark, and Intermountain Health. Fabric is backed by General Catalyst, Thrive Capital, GV (Google Ventures), Salesforce Ventures, Vast Ventures, BoxGroup, and Atento Capital.
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Flex has closed a $60 million Series B equity round led by Portage, bringing total equity raised to $105 million. In the last year, the company has quadrupled revenue and tripled its payments volume to $3 billion as it scales its all-in-one business and personal finance platform for high-net-worth middle-market business owners. Running a profitable middle-market business has become one of the most complex financial jobs in America, with owners often juggling more than ten disconnected systems to manage their money. Flex was created to give these high net worth owners a single place to run both their business and personal finances. This latest $60 Million equity round, followed by its $200 Million debt and $25 Million equity raise announced earlier this year, builds on a period of rapid hypergrowth. In just 12 months, Flex has grown revenue fourfold and increased annualized total payments volume from $1 billion to $3 billion across a suite of products, positioning Flex as one of the fastest-growing fintech companies at scale with best-in-class capital efficiency.

Flex is building the category-defining company solving this gap for high net worth business owners with a five-pillar strategy built around private credit, a business finance stack, a personal finance stack, payment solutions, and an ERP built for middle market businesses. These customers now use an average of four or more Flex products. Flex’s Business Credit Card, which provides 60-day float on every transaction, has been a major driver of adoption, acting as the wedge into deeper financial operations. Once owners experience the benefits of the Flex Credit Card, they often go on to adopt Flex’s banking, payments, working capital, and expense management tools to replace fragmented legacy systems. This integrated model has allowed Flex to scale with high efficiency and has created a strong foundation for its expansion into personal finance.

Launched in 2023, Flex a Flexbase Technologies brand is the AI Native “Private Bank” for high net worth business owners in the middle market. Flex is building the category-defining company solving this gap for high net worth business owners with a five-pillar strategy built around private credit, a business finance stack, a personal finance stack, payment solutions, and an ERP built for middle market businesses. Flex is the first platform that supports every step of their financial lives, from the moment they earn revenue to the moment they spend it personally.
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Across the United States, a new industrial age is taking shape. Trillions of dollars in infrastructure, from energy projects and advanced manufacturing to data centers and critical mineral facilities, must be built in the next decade. But large construction projects are slower and more expensive today than they were half a century ago. Unlimited Industries, a California-based company using AI to rethink how infrastructure gets built, has raised $12 million in seed funding to change that. The round was co-led by Andreessen Horowitz and CIV, with participation from leading industry investors. The capital will accelerate Unlimited’s expansion and further develop its proprietary AI platform – one designed to make large-scale engineering and construction faster, cheaper, and more ambitious.

Unlike traditional construction firms or standard software companies, Unlimited is an AI-native construction company that both designs and builds. Its proprietary platform can generate and evaluate hundreds of thousands of design configurations in parallel, automatically identifying optimal layouts for cost, safety, and performance before construction begins. By integrating AI-driven design with its own vertically integrated engineering and construction teams, Unlimited eliminates the costly handoffs and misaligned incentives that have defined the industry for decades.

In a statement Alex Modon, Co-Founder and CEO of Unlimited Industries said, “Advances in AI mean we can finally build the physical world the way we build software.” “The traditional construction model is slow, brittle, and fundamentally misaligned. Our approach replaces static design choices with a dynamic, data-driven process that learns from every project. The result is faster, cheaper, and more successful projects.”

Unlimited is an AI-native construction company headquartered in San Francisco. Today, the company designs and builds across energy infrastructure, data centers, critical minerals, and advanced manufacturing, helping developers build with greater speed, ambition, and efficiency. Their mission is to build a future of radical physical abundance by automating construction end-to-end. The company was founded in 2025 by serial founders Alex Modon, Jordan Stern, and Tara Viswanathan.
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