Anthropic has entered into a $250 million purchase agreement, while Fractile's valuation has surged 6x in the past 3 months.

Insightful AI Newsletter report: UK AI chip startup Fractile is in talks for a new funding round. Bloomberg, citing sources, reports that the company is looking to raise around $6 billion, valuing the company at $65 billion pre-money.

This valuation surge has been rapid. Just in May this year, Fractile completed a $220 million funding round, with a valuation of around $10 billion, led by Accel, Founders Fund, and Factorial Funds. In less than three months, the proposed valuation for the new round has already increased 6.5 times from the previous one.

The biggest new player in this round is Anthropic. Both parties have reached a preliminary agreement, with Anthropic planning to purchase around $250 million worth of Fractile chips, with potential for further expansion in the future.

Fractile specializes in AI inference chips, but its chips are not expected to be deployed until 2027. Despite the product not being delivered yet, with a valuation surge to $65 billion, this funding round is primarily betting on the future delivery capabilities and large client orders like Anthropic.