Amazon’s founder, Jeff Bezos, and the UK government have invested in a £2bn AI startup, CuspAI, that aims to be the “search engine for rare materials,” driving future technological advancements. Based in Cambridge, CuspAI recently raised $450m (£330m) in funding from investors including Bezos and the government’s sovereign AI fund, bringing its valuation to $2.6bn.
CuspAI has launched the AI Materials Foundry, a partnership with over 48 tech and industrial firms, including Nvidia and Meta Platforms, focused on using AI to discover and develop new materials for various industries, particularly chipmaking. The goal is to reduce the use of rare metals, like iridium and ruthenium, in supply chains.
CuspAI co-founders, Dr. Chad Edwards and Prof. Max Welling, emphasized the urgent need for new materials to avoid constraining industrial progress over the next 50 years. The startup plans to use its series B funding for international expansion, opening offices in Singapore and increasing staff in various cities, including Cambridge and Tokyo.
Funding criteria from the sovereign AI fund require a UK office and British founders. Liz Kendall, the science and technology secretary, highlighted CuspAI’s role in addressing significant global challenges like energy and climate change. The startup has recruited industry veterans, including John Giannandrea from Apple and Google, to assist in expanding its US operations.
