Cornelis Networks raised $205 million in a funding round led by IAG Capital Partners announced September 14, 2026; the article does not specify whether it is a first or follow-on round and does not disclose valuation. The company, which spun off from Intel in 2020, has begun shipping its Active Compute Fabric networking technology — designed to let chips process and send data simultaneously and to support open-architecture GPUs/accelerators versus Nvidia's optimized stack — and is developing a next-generation version expected later this year. No revenue, client, pipeline, or employee count metrics and no explicit planned use of proceeds were disclosed.