AI infrastructure company Cornelis raises $205M to chip away at Nvidia’s dominance

Cornelis raised $205 million from IAG Capital Partners to develop its Active Compute Fabric, a networking technology that lets AI chips process and transmit data simultaneously, reducing GPU idle time. The open-architecture fabric supports multiple GPU and accelerator brands, positioning the company as a competitor to Nvidia’s tightly integrated stack. Cornelis, spun off from Intel in 2020, has begun shipping the product and plans a new generation for later this year.