Fractile in talks for $6.5B valuation, a sixfold jump from its May round

Three months ago, Fractile was a freshly minted unicorn. Now it’s apparently trying to become six unicorns stacked in a trench coat. The London-based AI chip startup is in advanced negotiations to raise approximately $600 million at a pre-money valuation of $6.5 billion, according to reports. That would represent a roughly sixfold increase from the nearly $1 billion valuation it secured during its Series B round in May 2026. From $1B to $6.5B in one summer Fractile closed a $220 million Series B in May, co-led by Accel, Factorial Funds, and Founders Fund. The firm had raised somewhere in the range of $241 million to $321 million in total disclosed funding by the time that round wrapped up, including smaller earlier seed rounds. Now, barely into mid-August, the company is reportedly deep into talks for a follow-on round that would price it at $6.5 billion before the new money even hits the balance sheet. If completed, the raise would bring in around $600 million in fresh capital. What Fractile actually builds Fractile’s core bet is on SRAM-based inference hardware, an approach the company describes as “memory-compute fusion.” Instead of shuttling data back and forth between memory a...