Austin-based Neurophos, which develops a photon-based "Optical Processing Unit" to replace GPUs in AI training, raised $110M led by Bill Gates' Gates Frontier (Edward Ludlow/Bloomberg)

Neurophos, an Austin-based company, develops a photon-based "Optical Processing Unit" to replace GPUs in AI training. Bill Gates' Gates Frontier led a $110M investment in the company. The funding also includes investments from Microsoft and Aramco Ventures.