CuspAI Raises $450 Million to Develop Semiconductor Materials

CuspAI raised $450 million in Series B financing to develop software for discovering new materials used in semiconductor manufacturing. The funding round, led by Kleiner Perkins and New Enterprise Associates, included participation from Bezos Expeditions and the venture unit of Advanced Micro Devices Inc., bringing the company's valuation to $2.6 billion.

On July 20, 2026, the Cambridge-based startup launched the AI Materials Foundry, a coalition of more than 48 organizations. Members include Nvidia Corp., Meta Platforms Inc., and Hyundai Motor Group, who are pooling scientific and computing resources to identify alternatives to rare metals like ruthenium and iridium. This initiative aims to reduce supply-chain risks and address severe semiconductor shortages.

Beyond chipmaking, the company is partnering with Kemira Oy on projects to remove forever chemicals from water. The firm is expanding its presence with a new outpost in the San Francisco Bay Area and maintaining partner labs in Singapore and Cambridge.