Cambridge-based CuspAI closed a $450 million Series B on July 20, 2026, co-led by Kleiner Perkins and NEA, with Jeff Bezos's family office Bezos Expeditions among the backers. The round values the two-year-old startup at $2.6 billion, up from just $520 million in September 2025 — a nearly fivefold jump in under a year. Total funding now tops $670 million.
CuspAI uses AI to search vast chemical and physical design spaces for new materials, letting customers specify desired properties and filtering candidates before any physical testing. Semiconductors will absorb roughly 80% of its research bandwidth this year, including efforts to replace supply-constrained metals like ruthenium and iridium in chipmaking. The company also launched an "AI Materials Foundry," a network of more than 40 partners including Nvidia, Meta, Samsung, ASML and Hyundai.
Other new investors include Britain's Sovereign AI Venture Fund, the Netherlands' Invest-NL, AMD Ventures and John Doerr. "Materials discovery has quietly been a bottleneck behind progress in energy, semiconductors, and climate," said Doerr Capital's John Doerr. "What's remarkable about Cusp is that a single platform is already solving hard problems across industries."