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AI infrastructure company Nexthop AI completes $500 million Series B funding, with participation from a16z and others
ChainCatcher reports that AI infrastructure company Nexthop AI has announced the completion of a $500 million oversubscribed Series B funding round, valuing the company at approximately $4.2 billion. Investors in this round include a16z, Lightspeed, Altimeter Capital, Battery Ventures, Emergent Ventures, Kleiner Perkins, U.S. Innovative Technology Fund (USIT), and WestBridge Capital.
The company states that the funds will be used to accelerate the development of efficient AI network infrastructure and to launch three foundational network platforms. The team size has now exceeded 300 members.