DensityAI, an AI chip startup founded by former Tesla Dojo leader Ganesh Venkataramanan, is closing a funding round valuing the company at roughly $10 billion, with Andreessen Horowitz leading and hundreds of millions of dollars expected in fresh capital. The company has also secured a conditional procurement agreement with Amazon Web Services, which would buy its custom chips if they meet predefined performance standards. DensityAI was founded by Venkataramanan and about 20 former Dojo engineers and is developing integrated chip, hardware and software systems for data centers serving automotive, robotics and broader AI applications. The valuation comes while the chips remain at an early development stage and could be years from mass production. The source gives conflicting dates for the company’s founding and its financing history, placing the founding in 2025 while also citing a September 2024 seed round.