CuspAI raises $450M Series B at $2.6B valuation

CuspAI raised $450 million in a Series B round and launched the AI Materials Foundry, according to a Mobile World Live report published in July 2026.

CuspAI said the AI Materials Foundry is an industry initiative focused on accelerating the discovery of materials for semiconductors, clean energy and advanced manufacturing. The company said more than 45 founding partners joined the Foundry across the US, Asia-Pacific and Europe, including Nvidia, Meta Platforms, Samsung, Hyundai Motor Group, Henkel, Applied Materials, Tokyo Electron and Lam Research.

CuspAI said Kleiner Perkins and NEA led the Series B round, with significant participation from Bezos Expeditions. The company said the round valued CuspAI at $2.6 billion, up from a Series A of more than $100 million completed less than a year earlier. Additional new investors included Glade Brook Capital Partners, Lux Capital, AMD Ventures, Tru Arrow Partners, StepStone, the UK's Sovereign AI Venture Fund, the Netherlands' Invest-NL and John Doerr, while existing backers Temasek, Basis Set Ventures, Giant Ventures, Touring Capital, Prosus, Phoenix Court and Northzone also participated.

CuspAI said it is opening a new office in Singapore and already has operations in Cambridge, Amsterdam, Berlin, Tokyo and the US. The company also said former Apple and Google executive John Giannandrea will help establish its US foundry operations, and that Abhi Talwalkar, an AMD board member and chairman of Lam Research, has joined its advisory board.