Positron raised $875 million at a $5 billion valuation, with Liberty Global Tech Ventures joining an oversubscribed financing co-led by NEA, Valor Equity Partners, Atreides Management, Andra Capital, Dylan Patel's SemiAnalysis Capital and Jim Clark. The investment lifts the AI-inference hardware startup's valuation sharply from its February financing, which Reuters reported as $230 million at a $1 billion valuation; earlier PitchBook data cited a $1.06 billion valuation. Positron develops memory-first systems intended to lower AI-inference costs by using LPDDR5X memory rather than constrained high-bandwidth memory and CoWoS supply chains. Its Atlas systems are deployed with customers including Oracle, Jump Trading and Parasail. Positron plans to tape out its next-generation Asimov chip in late 2026 and begin production in the second half of 2027, with the chip set to power its multi-terabyte-memory Titan system for long-context AI workloads.