NEW YORK, February 24, 2026--MN8 Energy LLC, a New York-based leading renewable energy and battery storage company, today announced that it has entered into a long-term power purchase agreement with Meta, under which Meta will acquire the offtake generated by MN8’s 80-megawatt (MW) Walker Solar Project in Juniata County, Pennsylvania.
NEW YORK, February 24, 2026--MN8 Energy LLC, a New York-based leading renewable energy and battery storage company, today announced that it has entered into a long-term power purchase agreement with Meta, under which Meta will acquire the offtake generated by MN8’s 80-megawatt (MW) Walker Solar Project in Juniata County, Pennsylvania.
Austan Goolsbee, President and CEO of the Federal Reserve Bank of Chicago, speaks to the Economic Club of New York in New York City, U.S., April 10, 2025. Brendan McDermid | Reuters Chicago Federal Reserve President Austan Goolsbee said Tuesday that interest rate cuts aren't appropriate until there's more evidence that inflation is on its way down. With recent indicators showing that inflation wel...
Austan Goolsbee, President and CEO of the Federal Reserve Bank of Chicago, speaks to the Economic Club of New York in New York City, U.S., April 10, 2025. Brendan McDermid | Reuters Chicago Federal Reserve President Austan Goolsbee said Tuesday that interest rate cuts aren't appropriate until there's more evidence that inflation is on its way down. With recent indicators showing that inflation well off its highs but still above the Fed's 2% target, Goolsbee noted that policymakers "have been burned by assuming transitory inflation" in the past and shouldn't make the same mistake again. "I feel that front-loading too many rate cuts is not prudent in that circumstance," he said in remarks before the National Association for Business Economics at its annual gathering in Washington, D.C. "People express that prices are one of their most pressing concerns. Let's pay attention. Before we cut rates more to stimulate the economy, let's be sure inflation is heading back to 2%." The most recent inflation dat a, for December, showed core inflation, which excludes volatile food and energy prices, running at 3%, as measured by the consumption expenditures price index, the Fed's primary forecasting gauge. That was up 0.2 percentage point from November and came somewhat due to tariffs, which are viewed as temporary, but also from underlying pressures in the service sector and areas not directly impacted by the duties. Specifically, Goolsbee said stubbornly high housing inflation isn't tariff driven, emphasizing the need for the Fed to be "vigilant." Goolsbee noted that a 3% inflation rate "is not good enough — and it's not what we promised when the Federal Reserve committed to the 2% target. Stalling out at 3% is not a safe place to be for a myriad of reasons we know all too well." He has said previously that he thinks the Fed will be able to cut later in the year. The remarks come with markets expecting the Federal Open Market Committee, of which Goolsbee is a voter this year, to...
Corporate bonds are exposed to abrupt downside as liquidity providers are increasingly replaced by liquidity takers. JPMorgan Chase and Co.’s Jamie Dimon has warned of parallels to the era prior to the 2008 financial crisis. He’s not wrong to be concerned, as we will see, but you wouldn’t know it from looking at credit spreads, which are back near historic lows. But that doesn’t leave much further...
Corporate bonds are exposed to abrupt downside as liquidity providers are increasingly replaced by liquidity takers. JPMorgan Chase and Co.’s Jamie Dimon has warned of parallels to the era prior to the 2008 financial crisis. He’s not wrong to be concerned, as we will see, but you wouldn’t know it from looking at credit spreads, which are back near historic lows. But that doesn’t leave much further upside at a time when downside risks are mounting. Banks and brokers used to be the biggest price makers in the corporate debt market, but they have significantly reduced their footprint, while price takers, most notably exchange-traded funds, have rapidly increased theirs. ETFs now hold about 25%, or $250 billion, more corporate bonds than US banks. In fact, since 2024 ETFs are the only major sector to have increased their holdings of corporate bonds relative to the roughly $16 trillion outstanding. Other sectors that might provide liquidity or look to opportunistically buy after a drop in prices — such as banks, pension funds and foreigners — have reduced their presence in the market. Banks’ near-exodus from the corporate debt market came in the wake of the financial crisis. There was the Volcker rule, which limited proprietary trading activity, as well as enhanced liquidity regulation that required banks to hold more high-quality liquid assets, while the balance-sheet cost of holding corporate bonds rose. Broker/dealers’ holdings of corporate debt have fallen dramatically since the Global Financial Crisis, from well over $300 billion to between $70 billion and $80 billion now, despite a 70% increase in the total outstanding. Dealers and brokers have gone from holding about six times the average daily volume traded in corporate bonds a decade ago, to barely equal the average daily volume today. And ETFs’ holdings of $1.25 trillion engulf dealers’ holdings by about 25 times. Furthermore, primary dealers’ inventory of corporates — the net position between securities repo’e...
Brookfield Asset Management bought cloud-computing firm Ori Industries in a bet that governments and tech companies will need chips to win an escalating artificial-intelligence race. The startup, backed by Saudi Aramco’s venture arm, was merged into Radiant, a new company Brookfield created to provide on-demand access to AI chips, according to a statement Tuesday that didn’t disclose terms. Other ...
Brookfield Asset Management bought cloud-computing firm Ori Industries in a bet that governments and tech companies will need chips to win an escalating artificial-intelligence race. The startup, backed by Saudi Aramco’s venture arm, was merged into Radiant, a new company Brookfield created to provide on-demand access to AI chips, according to a statement Tuesday that didn’t disclose terms. Other infrastructure investors have avoided outsize bets on “GPU-as-a-service” companies, fearful of a sudden turn in fortunes if the chips lose value or become obsolete. Brookfield, which has wagered on power utilities and data centers, is leaning in. The firm is seeking to meet the needs of customers eager to reduce costs and avoid long waits for chips. Radiant will work with companies and governments looking to build highly controlled computing environments known as sovereign clouds, where data can’t cross national borders. Brookfield is betting that well-defined contracts that lock in rents across the estimated five-year life of a chip will guard against losses. “I think of it as a leasing business,” Sikander Rashid , Brookfield’s head of AI infrastructure, said in an interview. “Hopefully we are the first of many who will unlock large-scale capital to the theme.” Contracts will be structured so that Radiant customers — which are expected to be investment grade — will pay full freight, even if they no longer have a need for the chips. “We will not be taking any technology risk in this business,” Rashid said. Brookfield estimates AI will require $7 trillion in capital investment, with computing infrastructure calling for $3 trillion. Bankrolling Projects Radiant is one of the first bets from Brookfield’s multibillion-dollar AI infrastructure fund . The asset manager is seeking $10 billion of investor commitments, and expects additional investments and debt to boost the size of its AI initiative to as much as $100 billion. The AI fund will target bigger returns than Brookfield’...
Pre-Market Stock Futures: Futures are trading higher this morning after a dreadful day to start the trading week. Various reasons were cited for the risk-off bias on Monday, but the tariff situation, which the President raised to 15% from 10% over the weekend after the Supreme Court struck it down last Friday, was one of ... Here Are Tuesday’s Top Wall Street Analyst Research Calls: Blackstone, Bl...
Pre-Market Stock Futures: Futures are trading higher this morning after a dreadful day to start the trading week. Various reasons were cited for the risk-off bias on Monday, but the tariff situation, which the President raised to 15% from 10% over the weekend after the Supreme Court struck it down last Friday, was one of ... Here Are Tuesday’s Top Wall Street Analyst Research Calls: Blackstone, Blue Owl Capital, Booking Holdings, Cheniere Energy, Comcast, Domino’s Pizza, KeyCorp, Qualcomm, and M
Novo Nordisk A/S plans to slash the US list prices for its blockbusters Wegovy and Ozempic next year as the drugmaker struggles to claw back a larger share of the obesity market. The Danish drugmaker set a monthly price of $675 across the board for its semaglutide family of medicines, a cut of as much as 50%. Zepbound, Eli Lilly & Co ’s competing obesity drug, currently has a list price of $1,086....
Novo Nordisk A/S plans to slash the US list prices for its blockbusters Wegovy and Ozempic next year as the drugmaker struggles to claw back a larger share of the obesity market. The Danish drugmaker set a monthly price of $675 across the board for its semaglutide family of medicines, a cut of as much as 50%. Zepbound, Eli Lilly & Co ’s competing obesity drug, currently has a list price of $1,086.37. The price drop will apply to the wholesale acquisition cost, a published price that doesn’t reflect the complex system of rebates in the US market. On commercial insurance, both Zepbound and Wegovy can cost patients as little as $25 a month. Though the cuts won’t apply to the self-pay prices already available in the US, they may reduce out-of-pocket costs for patients with insurance that requires them to cover a larger portion of their drug costs, said Jamey Millar , Novo’s US operations chief. “I’m confident that payers will accept and welcome these lower list prices, as they’ve been calling for them publicly,” Millar said. In isolation, the move won’t have an impact on net sales, he said. Wegovy injection $1,349.02 $675 -50% Wegovy pill $1,349.02 $675 -50% Ozempic injection $1,027.51 $675 -34% Rybelsus pill $1,027.51 $675 -34% Novo is pulling levers on pricing to become more competitive in obesity after ceding market leadership to US rival Lilly. Millar, a former executive at UnitedHealth Group Inc. ’s pharmacy benefits manager Optum Rx, is an expert on US pricing strategies. The lower prices go into effect on Jan. 1. The company needed to announce the cuts now to allow payers time to prepare for the change next year, Millar said. The change will have a particular impact on people with high-deductible insurance plans, where the out-of-pocket cost of medicines is more reflective of the full list price, Millar said. Patients with co-insurance plan designs where they pay a percentage of the list price should also see an impact, he said. About a third of workers covered b...
Gilat Satellite Networks ( GILT ) has received $39 million in orders from a satellite operator for its electronically steered antenna (ESA) Sidewinder in-flight connectivity terminals, including both linefit and retrofit installations. Deliveries are expected over the next 12 months, it said on Tuesday. Gilat Satellite Networks ( GILT ) shares rose 3.2% in early trading. "Demand for high-performan...
Gilat Satellite Networks ( GILT ) has received $39 million in orders from a satellite operator for its electronically steered antenna (ESA) Sidewinder in-flight connectivity terminals, including both linefit and retrofit installations. Deliveries are expected over the next 12 months, it said on Tuesday. Gilat Satellite Networks ( GILT ) shares rose 3.2% in early trading. "Demand for high-performance ESA terminals continues to grow as airlines seek quality multi-orbit connectivity solutions that provide seamless broadband across geographies and satellite constellations," said Ron Levin , President, Gilat Commercial. More on Gilat Satellite Gilat Satellite Networks Ltd. (GILT) Q4 2025 Earnings Call Transcript Gilat Satellite Networks Ltd. 2025 Q4 - Results - Earnings Call Presentation Gilat Satellite Networks: Upside Case Built On IFC, Not Momentum Gilat wins $9 million satellite communications contract from Israel defense ministry Gilat Satellite Non-GAAP EPS of $0.20 beats by $0.06, revenue of $137M beats by $3.44M
What you plan to bake plays a big part in whether or not to chill a dough, and in terms of hydration, flavour and texture Does chilling cookie dough really make for a better result? Emily, by email “It all depends on what kind of cookie it is,” says Guardian baker Helen Goh . “Let’s say it’s a cookie that you need to stamp out – the dough needs to be firm enough to roll it, but not so firm that yo...
What you plan to bake plays a big part in whether or not to chill a dough, and in terms of hydration, flavour and texture Does chilling cookie dough really make for a better result? Emily, by email “It all depends on what kind of cookie it is,” says Guardian baker Helen Goh . “Let’s say it’s a cookie that you need to stamp out – the dough needs to be firm enough to roll it, but not so firm that you can’t.” That said, the question of whether to fridge or not to fridge is probably most prevalent in the chocolate chip cookie sphere. “There’s a perceived wisdom that chilling helps the dough develop the flavour and caramelisation,” Goh says, “but, to be honest, it also makes the dough a little easier to roll and ensures it bakes evenly, which is worth far more than that slight improvement in flavour.” Recommended chilling times vary from 30 minutes to overnight, although Goh finds the latter results in a “cakey” cookie: “I’m a real Goldilocks, so I like crisp at the edges with a chewy centre.” On the flip side, if you don’t chill that dough enough and the butter is too soft, the cookies will end up “very thin and crisp. They might be greasy, too, because the dough melts before setting up its structure.” Got a culinary dilemma? Email feast@theguardian.com Continue reading...
Raising the rainbow Pride flag instead of the more inclusive Progress flag excludes the trans community, activists say Thousands of protesters gathered outside of the iconic Stonewall Inn on a near-freezing night last week to re-raise the rainbow Pride flag in defiance of the Trump administration, which had unceremoniously ordered its removal days earlier. It was meant to be a joyous occasion, an ...
Raising the rainbow Pride flag instead of the more inclusive Progress flag excludes the trans community, activists say Thousands of protesters gathered outside of the iconic Stonewall Inn on a near-freezing night last week to re-raise the rainbow Pride flag in defiance of the Trump administration, which had unceremoniously ordered its removal days earlier. It was meant to be a joyous occasion, an act of protest for the New York City LGBTQ+ community, but trans activists in the crowd were deeply disappointed by what they say was exclusion of their community in choosing to raise the historic rainbow Pride flag instead of the newer, inclusive Progress pride flag. Continue reading...
The president and his aides vilify the judiciary with brutal rhetoric, hoping to delegitimize a co-equal branch of government When Donald Trump attacked several supreme court justices as “fools”, “lapdogs”, “disloyal to our constitution”, and a “disgrace to our nation ” after they ruled against his tariffs on Friday, it was probably the most vicious public tirade that a US president ever leveled a...
The president and his aides vilify the judiciary with brutal rhetoric, hoping to delegitimize a co-equal branch of government When Donald Trump attacked several supreme court justices as “fools”, “lapdogs”, “disloyal to our constitution”, and a “disgrace to our nation ” after they ruled against his tariffs on Friday, it was probably the most vicious public tirade that a US president ever leveled against the country’s highest court. But as extraordinary – and extraordinarily ugly – as Trump’s rant was, everyone should realize that it was part of a systematic campaign in which Trump and his top aides have vehemently denounced and smeared judges as part of Trump’s quest for ever more power. Whether it’s Trump, Stephen Miller, Pam Bondi or others, Trump and his lieutenants often pummel judges with brutal rhetoric. To many judges, these attacks no doubt spur fears that some Trump loyalists will threaten them or worse. Continue reading...
Armed groups and a state-owned refinery’s oil leaks have displaced Barrancabermeja’s fishing community and poisoned a paradise once full of manatees and jaguars Standing on her wooden canoe, a machete in her hand, Yuly Velásquez hacks away at reeds matted with blackened sludge. Close by, a burst oil pipe has released a slick of crude into the San Silvestre wetlands in Barrancabermeja, Colombia’s o...
Armed groups and a state-owned refinery’s oil leaks have displaced Barrancabermeja’s fishing community and poisoned a paradise once full of manatees and jaguars Standing on her wooden canoe, a machete in her hand, Yuly Velásquez hacks away at reeds matted with blackened sludge. Close by, a burst oil pipe has released a slick of crude into the San Silvestre wetlands in Barrancabermeja, Colombia’s oil city, choking the water and its wildlife. “The destruction is immense,” says Velásquez, president of Fedepesan, a sustainable fishing organisation. “For the fish, the animals and flora, it means immediate death.” Continue reading...
Hungary’s central bank cut its key interest rate for the first time in almost a year and a half, after the inflation rate fell below the central bank’s target. The National Bank of Hungary lowered its benchmark interest rate by a quarter-point to 6.25% on Tuesday, in line with the estimate of 21 economists in a Blomberg survey. Three had penciled a 17th consecutive month of no change. Annual headl...
Hungary’s central bank cut its key interest rate for the first time in almost a year and a half, after the inflation rate fell below the central bank’s target. The National Bank of Hungary lowered its benchmark interest rate by a quarter-point to 6.25% on Tuesday, in line with the estimate of 21 economists in a Blomberg survey. Three had penciled a 17th consecutive month of no change. Annual headline inflation fell to 2.1% from 3.3% in the month before, below the central bank’s 3% target for the first time in five years. Services price-growth, which Governor Mihaly Varga has said is “decisive” for monetary easing, dropped to 5%. Varga will hold a briefing at 3 p.m. to explain the decision, the same time the rate-setting Monetary Council will publish a statement. Investors will be on the lookout for guidance on whether the rate cut was the start of a monetary-easing cycle. With the move largely priced in by strategists, the forint stayed about 0.1% stronger at 379.1 per euro after the rate decision. The forint has benefited from the central bank’s caution, which had until now kept the key rate tied with Romania for the highest in the European Union. The tight policy had pushed the forint to the strongest level in two years against the euro, amid global demand for emerging-market assets. The currency has also benefited from investor bets that Prime Minister Viktor Orban ’s government will be ousted in April 12 elections and replaced by a more market-friendly administration.
Right-wing influencer and self-described “alpha male” Nick Adams has reportedly been dropped as the United States’ pick for ambassador to Malaysia. Adams confirmed he would not become US ambassador to Malaysia in an email to The Sydney Morning Herald and said his new role would soon be revealed. “Brilliant detective work, Mick! I’ve been promoted from the role of ambassador!” Adams said in the ema...
Right-wing influencer and self-described “alpha male” Nick Adams has reportedly been dropped as the United States’ pick for ambassador to Malaysia. Adams confirmed he would not become US ambassador to Malaysia in an email to The Sydney Morning Herald and said his new role would soon be revealed. “Brilliant detective work, Mick! I’ve been promoted from the role of ambassador!” Adams said in the email, addressing the Herald journalist. “More details on that will come this upcoming week. I’m sure...
China is reviewing its trade countermeasures against the United States as Washington’s new global tariffs take effect, following a Supreme Court ruling that struck down the Trump administration’s sweeping levies imposed last year. The Ministry of Commerce on Tuesday also confirmed that Beijing would soon hold a new round of high-level trade talks with Washington, expected to pave the way for US Pr...
China is reviewing its trade countermeasures against the United States as Washington’s new global tariffs take effect, following a Supreme Court ruling that struck down the Trump administration’s sweeping levies imposed last year. The Ministry of Commerce on Tuesday also confirmed that Beijing would soon hold a new round of high-level trade talks with Washington, expected to pave the way for US President Donald Trump’s state visit to the country in late March. “China has consistently opposed...
Stefano Ermon helped pioneer technology that’s used by popular artificial intelligence services to generate images and videos. Now his startup, Inception, is vying to change how AI handles text. Inception on Tuesday is set to release Mercury 2, an AI model that’s designed to field questions from users significantly faster and more cheaply than alternative services. Where text models typically proc...
Stefano Ermon helped pioneer technology that’s used by popular artificial intelligence services to generate images and videos. Now his startup, Inception, is vying to change how AI handles text. Inception on Tuesday is set to release Mercury 2, an AI model that’s designed to field questions from users significantly faster and more cheaply than alternative services. Where text models typically process tokens — or units of data — sequentially, Mercury 2 relies on diffusion models to handle multiple tokens simultaneously. The system “starts with a sketch of the answer and then it refines it in parallel,” said Ermon, a computer science professor at Stanford. “That's why these diffusion models, this Mercury model, is so much faster than anything that was built before.” Mercury 2 can also lower costs because it can generate more tokens using the same number of chips. Inception is part of a growing crop of startups exploring novel ways to build AI models, with the goal of making them more adept at various tasks. The company is backed by Microsoft Corp. ’s M12, Snowflake Ventures and Databricks Inc., as well as a who’s who of angel investors, including Eric Schmidt, the former chief executive officer of Google. Many of the companies trying to provide faster responses to AI queries have developed customized chips that are designed differently than Nvidia Corp. ’s graphics processing units. Inception, however, is trying to do the same thing solely with software, meaning its models can run on Nvidia’s hardware, the most widely used chip. “It’s a broader solution, and it's re-imagining how models should be built,” Navin Chaddha, managing partner at Mayfield, which invested in the startup in 2024 before it had proven its ideas could work. Inception has partnerships with Microsoft, Amazon.com Inc. and Nvidia. It’s also working on plans for how its new model could help large companies, including a top food-ordering company and a leading maker of coding tools. The company’s technol...
Security company ADT Inc. has bought AI startup Origin Wireless Inc. for $170 million in a deal that will allow it to upgrade its popular home security products with new artificial intelligence features. Origin's technology can distinguish between human and non-human motion, analyzing whether activity comes from, say, a person, dog or mechanical object such as a robotic vacuum. This is more sophis...
Security company ADT Inc. has bought AI startup Origin Wireless Inc. for $170 million in a deal that will allow it to upgrade its popular home security products with new artificial intelligence features. Origin's technology can distinguish between human and non-human motion, analyzing whether activity comes from, say, a person, dog or mechanical object such as a robotic vacuum. This is more sophisticated than ADT’s existing motion sensors, which can detect the presence of a moving creature or object but not classify it. Origin uses Wi-Fi signals from ordinary devices like laptops and smart light bulbs to make its determinations, meaning that cameras or additional sensors aren't needed. “Consumers have notification fatigue right now,” Omar Khan, ADT’s executive vice president and chief business officer, said in an interview announcing the deal. “We get so many notifications from cameras or sensors going off that it becomes this whole thing of ‘Are we actually paying attention to what actually needs to be paid attention to?’ This technology starts to remove more and more of the noise.” Boca Raton, Florida-based ADT plans to make the features available to its more than 6 million customers through software updates, starting in 2027, it said on Tuesday. Home security and AI already make for a sometimes controversial combination. Amazon.com Inc. -owned Ring was met with pushback earlier this month after it aired a Super Bowl ad touting its Search Party tool, which lets camera owners volunteer their doorbell cams to help locate missing dogs. Some people on social media questioned the potential for surveilling humans. Soon after, the company terminated its planned partnership with police surveillance company Flock. Read More: Amazon Fends Off Blowback for Ring’s Search Party Tool Khan said Origin’s technology provides home security and monitoring without sacrificing privacy, adding that it does not use video and is pretrained on anonymized data. Today, it uses a mix of loca...
In this article NVDA Follow your favorite stocks CREATE FREE ACCOUNT Jensen Huang, president and CEO of Nvidia, attends the 56th annual World Economic Forum meeting in Davos, Switzerland, Jan. 21, 2026. Denis Balibouse | Reuters It's been a tough start to the year for technology investors. Shares of seven of the eight trillion-dollar tech companies have notched losses so far. The lone exception is...
In this article NVDA Follow your favorite stocks CREATE FREE ACCOUNT Jensen Huang, president and CEO of Nvidia, attends the 56th annual World Economic Forum meeting in Davos, Switzerland, Jan. 21, 2026. Denis Balibouse | Reuters It's been a tough start to the year for technology investors. Shares of seven of the eight trillion-dollar tech companies have notched losses so far. The lone exception is Nvidia . The chipmaker's stock is up 2.7% in 2026 as of Monday's close, while the Nasdaq has dropped more than 2.5%. Microsoft , Amazon and Tesla have all seen double-digit declines. Heading into Nvidia's quarterly earnings report Wednesday, Wall Street has a pretty clear idea of where the company stands. That's because its biggest customers announced results a few weeks ago and told investors that their mammoth spending on artificial intelligence infrastructure is only going to increase. "Hyperscale capex forecasts for CY2026 have exceeded prior expectations," analysts at Wedbush Securities wrote in a Monday note previewing Nvidia's earnings. "With servers and AI infrastructure representing the bulk of forward spend, we expect growth in AI investment will somewhat exceed overall capex trends." Like over 90% of firms tracked by FactSet, Wedbush analysts recommend buying Nvidia shares. They have a $230 price target on the stock, which is 20% above Monday's close. Read more CNBC tech news AI robots may outnumber workers in a few decades, ex-Citi executive says Google spinout Aalyria valued at $1.3 billion as investors pour into space-based communications Sam Altman defends AI resource usage: Water concerns 'fake,' and 'humans use energy too' Microsoft Xbox chief Phil Spencer retires, replaced by AI executive Asha Sharma Nvidia, the world's most valuable publicly traded company, now gets roughly 90% of its revenue from its data center business, which houses the graphics processing units, or GPUs, and AI systems used to train and run most large language models. As tech giants ...
MatX, an AI chip startup founded by two alumni of Google’s semiconductor business, has raised more than $500 million in a new funding round to produce hardware that competes with Nvidia Corp . The financing was led by Jane Street and Situational Awareness, the investment firm founded by former OpenAI researcher Leopold Aschenbrenner. Other backers include Marvell Technology Inc., venture firms NFD...
MatX, an AI chip startup founded by two alumni of Google’s semiconductor business, has raised more than $500 million in a new funding round to produce hardware that competes with Nvidia Corp . The financing was led by Jane Street and Situational Awareness, the investment firm founded by former OpenAI researcher Leopold Aschenbrenner. Other backers include Marvell Technology Inc., venture firms NFDG and Spark Capital, as well as Stripe Inc. co-founders Patrick and John Collison. The company declined to disclose the exact valuation, but said it’s now valued at several billion dollars. MatX is one of a growing number of upstarts vying for a piece of the artificial intelligence chips market long dominated by Nvidia’s graphics processing units. The startup was founded by Reiner Pope , who worked on software for Google’s chips and AI models, and Mike Gunter , a hardware engineer for the search giant’s tensor processing unit chips. Pope and Gunter left Google in 2022 with the goal of creating a better chip from scratch that focuses solely on running large language models, the technology that underpins today’s AI chatbots. Their goal is to design a new line of competitive hardware that blends two distinct approaches used by other chipmakers. Currently, Nvidia and Google rely heavily on high-bandwidth memory to build chips that handle the massive volume of calculations needed to train AI models. Other chip companies have used static random access memory to process individual user queries faster, catering to the surging demand for inference, or running AI models after they’ve been trained. “Our position is that it is actually possible to do both in the same product and you get a much better product as a result,” said Pope, who serves as the company’s chief executive officer. The startup expects to complete the final design of its chip this year and hopes to begin shipping in 2027. MatX plans to work with Taiwan Semiconductor Manufacturing Co. to make the product. The new fund...