Anthropic explored acquiring MatX, an AI chip startup focused on large language model processors, at a reported valuation of roughly $7 billion before the deal stopped progressing, Reuters reported Thursday, citing unnamed sources familiar with the discussions. Talks have since shifted toward a potential partnership rather than an outright purchase. Neither company has commented publicly. Anthropic declined to comment to Reuters, and MatX did not respond to the outlet’s request.
MatX was founded in 2023 by Reiner Pope, who previously led AI software development for Google’s tensor processing units, and Mike Gunter, a lead TPU hardware designer. The company builds processors designed specifically for large language model training rather than general-purpose computing.
In February, MatX raised a $500 million Series B led by Jane Street and Leopold Aschenbrenner’s Situational Awareness fund, with Marvell, Spark Capital, and the Collison brothers also participating. Volume chip shipments are planned from 2027. Reuters reported MatX is currently raising at approximately $4 billion, placing the discussed acquisition price roughly three-quarters above its current fundraising valuation.
The abandoned deal sits within a broader pattern of Anthropic assembling silicon capability at speed. The company confirmed an in-house chip team earlier this year and is separately in discussions with Samsung about manufacturing a custom processor. AMD has committed $5 billion in equity investment alongside a two-gigawatt GPU deployment agreement, and Broadcom has been reported to be seeking more than $60 billion in debt financing tied to chips destined for Anthropic.
A partnership structure, if finalized, would give Anthropic access to MatX’s chip designs without the operational complexity of integrating an acquisition during an active infrastructure buildout. It would also leave MatX free to serve other customers, which is relevant for a company currently raising capital as an independent supplier.
No partnership agreement has been announced, and no explanation for the end of acquisition talks has been confirmed by either party.
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