Positron Raises $23.M After New CEO Steps In

The AI hardware space is seeing increased competition as enterprises seek alternatives to Nvidia’s high-cost GPUs. Positron, a Reno-based AI chip startup, has raised $23.5 million in seed funding to scale the production of its energy-efficient inference chips, designed to process AI workloads at a fraction of the power and cost of Nvidia’s dominant hardware. The funding round includes notable investors such as Valor Equity Partners—known for backing Elon Musk’s ventures—along with Atreides Management, Flume Ventures, and Resilience Reserve. While Nvidia continues to dominate AI computing with an estimated 80% market share, rising costs and increasing concerns over vendor lock-in are pushing enterprises to explore alternatives. Positron is betting that its U.S.-manufactured chi