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UK chip startup Fractile raises $720 million at a $7 billion valuation before its first commercial chip launches

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Source: AIStockWire

Key points Fractile's $7 billion valuation comes before the UK startup has launched a commercial chip The UK government invested in Fractile to strengthen Britain's own AI hardware capabilities Anthropic's IPO filing doesn't name Fractile, which reportedly agreed in August to sell Anthropic about $250 million of chips Fractile, a British startup developing chips to run AI models, raised $720 million in a Series C round that valued it at $7 billion, Reuters reported on Nov. 11. Fractile confirmed the round’s size to Reuters. Fractile hasn’t launched a commercial chip yet; its first is planned for next year. Thrive Capital, Founders Fund, Lightspeed Venture Partners, and Redpoint led the round. The UK government also invested and put the valuation at more than £5 billion.

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Nscale (NSCL) still lacks binding financing for its $44.6 billion Anthropic contract, and its debt has hit $5.5 billion

Key points Nscale lacks binding financing commitments for its Anthropic contract Nscale's debt jumps to an estimated $5.5 billion in one quarter Nvidia commits $2 billion to Nscale's pre-IPO round Nscale (NSCL), the London-based AI cloud company backed by Nvidia (NVDA), has signed customer contracts worth $105.8 billion, but it still hasn't secured binding financing commitments to deliver the biggest one. In an amended IPO filing on Nov. 12, Nscale says it has "not obtained binding commitments for any of the financings required to fund performance under the Anthropic Services Agreements." Those agreements with Anthropic (ANT) are worth up to $44.6 billion. Nscale's September filing said the same thing. The same filing estimates Nscale's total debt at $5.5 billion on Sept. 30, up from $137.4 million three months earlier. That's about 18 times the $307.5 million of revenue Nscale estimates for the first nine months of 2026.

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