The brief

Analyst view

• Raised a $475M seed at a $4.5B valuation in Dec 2025, led by a16z and Lightspeed: the first tranche of up to $1B.
• Un-0 (Jun 2026) generates images with up to 16,384 oscillators, simulated on GPUs; no chip exists yet. Chip schematics are promised 'soon'.
• Founder Naveen Rao previously sold Nervana to Intel and MosaicML to Databricks.

Technical approach

As reported

Physics computes

Let physical dynamics do the maths

Instead of digital logic, networks of coupled ring oscillators settle into states that encode the answer, so the circuit itself is the computation.

Memory

Cut data movement, the real energy cost

Reading a number from off-chip memory costs hundreds of times more energy than multiplying it. Merging memory and compute attacks that cost.

Co-design

Models built for the hardware

Neural networks are designed around oscillator dynamics, noise tolerance and sparse connections rather than ported from GPU-era models.