CuspAI raises $450 million Series B at $2.6 billion valuation

2 min read

CuspAI, a Cambridge-based AI startup co-founded in 2024 by Dr. Chad Edwards and Prof. Max Welling, closed a $450 million Series B on July 20 that set its valuation at $2.6 billion and pushed total funding past $580 million. The round was co-led by Kleiner Perkins and NEA and included Bezos Expeditions, AMD Ventures, and the UK government's Sovereign AI Venture Fund. The company uses AI to identify advanced materials for next-generation chips, a focus driven by rapidly growing demand and rising prices for gallium, iridium, and tantalum, and an IEA warning that gallium demand could exceed supply within four years.

CuspAI closed a $450 million Series B at a $2.6 billion valuation