CuspAI Raises $450M Series B to Accelerate AI Materials Discovery for Chipmaking

What happened

CuspAI announced a $450M (€393M) Series B on July 20, 2026 at a $2.6B valuation, and simultaneously launched the AI Materials Foundry — a global collaboration network to accelerate new materials design.

Context and impact

Discovering new semiconductor materials is a critical bottleneck for AI infrastructure expansion. CuspAI claims its platform compresses materials discovery timelines from years to weeks. Participation from NVIDIA, AMD, and global chip manufacturers signals strong industrial demand for faster materials research.

Details

• Round co-led by Kleiner Perkins and NEA; Bezos Expeditions co-led as major backer
• Additional investors: John Doerr, AMD Ventures, Lux Capital, UK Sovereign AI Venture Fund, Netherlands' Invest-NL
• 45+ AI Materials Foundry founding members: NVIDIA, Meta, Samsung, Hyundai, Applied Materials, Tokyo Electron, Lam Research
• Total funding since 2024 founding exceeds $650M
• Valuation grew from $520M nine months ago to $2.6B