Reno-based Positron AI raised an $875 million Series C on September 10, 2026, a follow-on round that values the company at $5 billion — a fivefold increase from February. The round was led by NEA, Atreides Management, Valor Equity Partners, Andra Capital, SemiAnalysis Capital and Silicon Graphics/Netscape co-founder Jim Clark, with more than a dozen additional institutional investors participating. Positron, which builds inference appliances that replace scarce, high-cost high-bandwidth memory (HBM) with more available, lower-cost smartphone-grade LPDDR5X, said the funding will advance its inference technology, which it claims compensates for LPDDR5X's lower memory bandwidth by unlocking higher utilization than the sub-30% typical of HBM-based accelerators.