Company · Chips & compute
Positron AI revenue, valuation & funding
Positron AI was valued at $5B after its $875M Series C, announced in September 2026. It has published no revenue figure. It is a private company with no stock ticker and no announced IPO plan.
At a glance
- Valuation: $5B post-money after its $875M Series C, announced in September 2026.
- Revenue: no published figure. In February 2026 it said it expects strong revenue growth in 2026.
- Status: private. No stock ticker and no IPO filing.
- Founded: April 2023, by Thomas Sohmers and Edward Kmett, both formerly of Groq.
- CEO: Mitesh Agrawal, formerly COO of Lambda.
- Investors: NEA, Atreides Management, Valor Equity Partners, Jim Clark, Jump Trading and Qatar Investment Authority, among others.
- Products: Atlas inference servers, the Asimov chip (production expected in the second half of 2027) and the Titan system (listed for 2027).
- Headquarters: Reno, Nevada, with a remote-first team. Its about page lists 100+ employees across the United States, Canada and Israel.
Is Positron AI public? Can you buy its stock?
No. Positron AI is a private company, so its shares don't trade on any stock exchange and it has no ticker symbol. Nasdaq Private Market says it has not had an IPO and has no IPO price.
No IPO filing or timeline from its executives has been reported.
Its shares are held by its founders, staff and investors. They are a private security, and only accredited investors can trade them, according to Nasdaq Private Market. This page reports facts and gives no investment advice.
Valuation, round by round
Its valuation went from just over $1B in February 2026 to $5B in September 2026, close to five times in seven months.
| Date | Valued at | Raised | Led by | Source |
|---|---|---|---|---|
| Sep 2026 | $5B | $875M | NEA, Atreides Management, Valor Equity Partners, Andra Capital, SemiAnalysis Capital and Jim Clark | StorageNewsletter (Positron press release) |
| Feb 2026 | $1B | $230M | ARENA Private Wealth, Jump Trading, and Unless | Business Wire (Positron press release) |
| Jul 2025 | — | $51.6M | Valor Equity Partners, Atreides Management and DFJ Growth | Business Wire (Positron press release) |
The July 2025 Series A came with no valuation. The September 2026 round came in two tranches, a $375M Series C at a $3.5B pre-money valuation and a Series C-1 of up to $500M.
How Positron AI makes money
Positron sells hardware for inference, the work of running AI models after they are trained. Its first-generation system, Atlas, is in production at Oracle Cloud Infrastructure and with other customers.
The company has published no pricing or revenue figure. In its Series B release it said only that it expects strong revenue growth in 2026.
Products
Positron builds chips and servers for inference, designed around large amounts of memory per chip.
- Atlas is its first-generation inference system. It is in production at Oracle Cloud Infrastructure and with other customers. StorageNewsletter (Positron press release)
- Asimov is its custom inference chip. It is set to tape out on TSMC's N3P process at the end of 2026, with production in the second half of 2027. Each chip carries 288 GB to 2,304 GB of memory. StorageNewsletter (Positron press release)
- Titan is an inference system listed for 2027, with up to 18.4TB of Asimov memory from 4 or 8 Asimov chips. Positron AI
Customers
Positron is deploying more than 50 racks of Atlas at Oracle Cloud Infrastructure, according to its Series C announcement. Its about page dates 50+ racks deployed there to August 2026. It calls Positron the first AI chip startup in a hyperscaler.
- Parasail uses Positron's capacity at Oracle for its own inference service. Pulse 2.0
- Jump Trading became an Atlas customer first and then co-led the Series B in February 2026. Business Wire (Positron AI)
- i3d.net is another Atlas production customer. StorageNewsletter (Positron press release)
Leadership
- Mitesh Agrawal, CEO. He was COO of Lambda before joining Positron. Business Wire (Positron press release)
- Thomas Sohmers, co-founder and CTO, formerly of Groq. He earlier founded REX Computing as a Thiel Fellow. Positron AI (About page)
- Edward Kmett, co-founder and chief scientist, formerly of Groq. Positron AI (About page)
- Forest Baskett, Gavin Baker, Thomas Jermoluk and Dylan Patel joined the board as part of the Series C in September 2026. They come from NEA, Atreides Management, Jim Clark Office and SemiAnalysis Capital. Pulse 2.0
Who owns Positron AI?
Its founders, staff and investors. As a private company it doesn't publish who holds what, and no stake has been disclosed.
- NEA co-led the $375M first Series C tranche and led the Series C-1 of up to $500M with Jim Clark, in September 2026. Pulse 2.0
- Atreides Management, Valor Equity Partners, Andra Capital and SemiAnalysis Capital co-led the first Series C tranche with NEA. StorageNewsletter (Positron press release)
- ARENA Private Wealth, Jump Trading and Unless co-led the $230M Series B in February 2026. Business Wire (Positron press release)
- Qatar Investment Authority, Arm and Helena made new and strategic investments in the Series B. Business Wire (Positron press release)
- Valor Equity Partners, Atreides Management and DFJ Growth led the $51.6M Series A in July 2025. Business Wire (Positron press release)
- Hudson River Trading, Cisco Investments and Naver Ventures are strategic investors in the Series C. DFJ Growth, Resilience Reserve, Natural Capital, 1517 Fund and Flume Ventures also took part. StorageNewsletter (Positron press release)
Timeline and latest news
From its founding to the latest reports, newest first.
- Sep 10, 2026Latest
Announced an $875M Series C at a $5B post-money valuation. StorageNewsletter (Positron press release) - Sep 10, 2026Latest
NEA and Jim Clark led the Series C-1 tranche of up to $500M. StorageNewsletter (Positron press release) - Sep 10, 2026Latest
Four new directors joined the board as part of the Series C. Pulse 2.0 - Sep 10, 2026
Said Asimov would tape out on TSMC's N3P process at the end of 2026. Pulse 2.0 - Sep 10, 2026
Named Parasail, Jump Trading and i3d.net as Atlas customers. Pulse 2.0 - Aug 2026
Had 50+ racks of Atlas deployed at Oracle, by its own account. Positron AI (About page) - Feb 4, 2026
Announced a $230M Series B at a valuation above $1B. Business Wire (Positron press release) - Feb 4, 2026
Jump Trading co-led the Series B after first becoming an Atlas customer. Business Wire (Positron AI) - Feb 4, 2026
Qatar Investment Authority, Arm and Helena invested in the Series B. Business Wire (Positron press release) - Jul 28, 2025
Closed a $51.6M Series A led by Valor Equity Partners, Atreides Management and DFJ Growth. Business Wire (Positron press release) - Apr 2023
Founded by Thomas Sohmers and Edward Kmett, both formerly of Groq. Positron AI (About page)
Questions people ask
Is Positron AI a public company? Can I buy Positron AI stock?
No. Positron AI is private and has no ticker. Its shares are a private security that only accredited investors can trade, according to Nasdaq Private Market.
When will Positron AI IPO?
It hasn't announced a plan or filed. Nasdaq Private Market says it has not had an IPO.
Who owns Positron AI?
Its founders, staff and investors, including NEA, Atreides Management, Valor Equity Partners, Jim Clark, Jump Trading and Qatar Investment Authority. Stakes haven't been disclosed.
Who is the CEO of Positron AI?
Mitesh Agrawal, formerly COO of Lambda.
Who founded Positron AI?
Thomas Sohmers and Edward Kmett, both formerly of Groq, in April 2023.
How much is Positron AI worth?
$5B post-money after its $875M Series C, announced in September 2026, as StorageNewsletter reported.
How much revenue does Positron AI make?
It hasn't published a figure. In its Series B release it said it expects strong revenue growth in 2026.
Is Positron AI profitable?
It doesn't publish results, and no profit or loss figure has been reported.
How does Positron AI make money?
It sells Atlas inference systems. Customers include Oracle Cloud Infrastructure, Parasail, Jump Trading and i3d.net.
Where is Positron AI headquartered?
Reno, Nevada, with a remote-first team across the country, according to its Series A release.
People on Real Alpha
- Thomas Sohmers, Co-founder & CTO, Positron AI
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How this page is sourced
Each figure links to the filing, company statement or news report it came from, with its date. Run rates are what reporters were told, not audited results; estimates and unconfirmed reports are marked. Quotes are what each person said on the record, with the minute they said it. Spotted something that's off? .
Last checked Nov 8, 2026