General Compute has raised $100 million in a Series A round led by Blackbird Ventures and Abstract Ventures, pushing its post-money valuation to $800 million.
The startup also secured a $400 million deal with SambaNova, Positron, and Cerebras for specialized inference chips.
The funding round was led by Blackbird Ventures and Abstract Ventures, with participation from Blackbird executive James Palmer. The funding comes as CoreWeave’s stock recently hit a 12-month low, while Elon Musk estimated that more than 200 smaller companies in the space could face failure and merger.
General Compute co-founder and CEO Finn Puklowski disagreed with concerns about a meltdown, stating that demand for computing power remains huge.
Different approach to equipment and facilities
The company is taking a different approach than its traditional competitors. Instead of mainstream chips, it is focusing on specialized chips from Nvidia rivals. Specifically, it has struck a $400 million deal to buy new chips from SambaNova, whose co-founder and CEO is Rodrigo Liang, and has also added Positron and Cerebras to its suppliers.
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In terms of infrastructure, the startup is using smaller power sources, renting space in other companies' data centers, and repurposing spaces that previously hosted cryptocurrency mining. Puklowski estimates that the company will be able to develop 75 megawatts of computing power by 2027.
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