Menu Close
Lightmatter

Lightmatter

Lightmatter News: Lightmatter Raises $400 Million For Photonic Networking

October 16, 2024

Lightmatter Unicorn News - October 17, 2024

Lightmatter Inc. has secured $400 million in Series D funding to advance their photonic data center networking technology, aiming to revolutionize data center operations with their Passage technology. This funding round, led by T. Rowe Price, marks a significant step towards enhancing AI and machine learning capabilities across the tech industry.

( 00:00:00 ) Introduction

( 00:00:34 ) Lightmatter Secures $400M Funding to Enhance Photonic Data Center Networking

play
0:00 - 0:00

Lightmatter Inc. has reached a pivotal point in its development by securing $400 million in a Series D funding round, which has increased the company's valuation to $4.4 billion. This funding round, completed on October 16, 2024, was spearheaded by T. Rowe Price Associates, with significant contributions from existing investors including Fidelity Management & Research Co. and GV, the venture capital division of Alphabet Inc. The newly acquired funds are earmarked for the large-scale deployment of Lightmatter's cutting-edge optical networking solution, Passage, in partner data centers. Passage is poised to transform data center networking by delivering bandwidth capabilities of up to 100 terabits per second, which will not only drastically reduce power consumption but also minimize latency compared to conventional data center interconnects. This technological advancement is expected to significantly enhance the efficiency of modern data centers by enabling hundreds of GPUs to operate in unison, thereby simplifying the complex and expensive processes involved in training and executing AI models. The implementation of Passage is anticipated to accelerate progress in AI and machine learning, offering a substantial boost to the tech industry by addressing a critical bottleneck.

Empower Your Portfolio with Private Equity

Invest in Lightmatter

Disclaimer

Investing in private securities is speculative, illiquid, and involves risk of loss. An investment with Linqto is a private placement and does not grant or transfer ownership of private company stock. No guarantee is made that a company will experience an IPO or any liquidity event.

Linqto leverages advanced artificial intelligence (AI) technologies to generate Unicorn News to summarize updates about private companies. The news summaries and audio are both AI generated, based on the source(s) listed.