Cornelis Networks raised $205 million in a funding round led by IAG Capital Partners and launched Active Compute Fabric, a networking technology designed to reduce the time AI chips spend waiting for data. The company says its architecture allows chips to process and transmit information concurrently while supporting different GPUs and accelerators, positioning it as an open alternative to Nvidia’s integrated networking and software stack. Active Compute Fabric combines programmable compute, lossless data transport and in-fabric acceleration, with support for standards including Ultra Ethernet and UALink. Cornelis is already shipping its products and working on a new generation expected later this year. Its CN5000 switch ships at 400 Gbps, while the multi-protocol CN6000 supports 800 Gbps and is expected to become broadly available in the fourth quarter of 2026. The company spun out of Intel in 2020 and has deployments including the Lynx supercomputer at Lawrence Livermore National Laboratory.