Cambridge startup CuspAI raises $450 million to find rare materials
CuspAI, a Cambridge-based startup using AI to find rare materials faster, just raised $450 million in funding co-led by Kleiner Perkins, with Jeff Bezos and the UK government's sovereign AI fund participating as investors.
The company is now valued at $2.6 billion and plans to expand globally with a new office in Singapore, plus bigger teams in Cambridge, Berlin, and Tokyo.
CuspAI partners include NVIDIA, Meta, Hyundai
Founded in 2024, CuspAI wants to build a "search engine for rare materials": think breakthroughs that could change chipmaking and clean energy.
Their AI Materials Foundry brings together more than 48 partners like NVIDIA, Meta, and Hyundai to hunt for alternatives to scarce metals such as iridium and ruthenium.
The fresh funding will help tackle supply chain challenges and boost efficiency in semiconductors and energy networks.
Co-founders Dr. Chad Edwards and Professor Max Welling say finding new materials is crucial for progress; the UK government's investment fits its goal of helping local AI companies grow worldwide.