Anthropic Explores MatX Deal for Custom AI Chips

Anthropic discussed acquiring AI chip startup MatX for roughly $7 billion to accelerate development of custom hardware for its growing AI business, but the acquisition talks are no longer active and have evolved into discussions about a potential partnership, according to people briefed on the matter cited by Reuters.

MatX, founded by former Google Tensor Processing Unit engineers, is separately seeking new funding at a valuation of about $4 billion, according to Reuters. Anthropic and MatX have not publicly disclosed the terms or structure of any potential partnership.

Anthropic Shifts From $7 Billion Acquisition to Partnership

The proposed acquisition would have given Anthropic direct access to MatX’s chip-design capabilities and engineering talent as the AI company expands its internal hardware program. Reuters reported that the companies’ discussions have since shifted toward a potential partnership, although the reason the acquisition talks ended could not be determined.

Anthropic declined to comment on the deal discussions, while MatX did not respond to Reuters’ request for comment. The absence of a finalized agreement means the companies’ current commercial arrangement, if any, remains undisclosed.

The change also allows MatX to remain an independent company while pursuing additional capital. Reuters reported that MatX is seeking funding at a valuation of about $4 billion, below the roughly $7 billion price Anthropic had discussed for an acquisition.

MatX Builds Training Chips To Challenge Nvidia

MatX was founded by former Google TPU engineers, including co-founder Reiner Pope, who previously worked on Google’s AI hardware program. The startup is developing processors intended for large-scale AI model training, putting it directly into a market dominated by Nvidia’s data-center GPUs.

MatX raised more than $500 million in a February 2026 funding round led by Jane Street and Situational Awareness, with investors including Marvell Technology and Spark Capital, according to Bloomberg. MatX said the company was valued at several billion dollars but did not publicly disclose the exact valuation at the time.

TechCrunch reported that the February financing was intended to help MatX produce its chips with Taiwan Semiconductor Manufacturing Co. and that the startup planned to begin shipping them in 2027.

Anthropic Targets Greater Control Over AI Compute

The MatX discussions form part of Anthropic’s broader effort to develop custom silicon rather than depend entirely on externally supplied processors. Reuters reported that the company’s objective is to secure the resources and talent needed to accelerate its in-house chip development.

Anthropic’s hardware push comes as AI companies seek larger amounts of computing capacity to train and operate increasingly capable models. Reuters reported that Anthropic is investing heavily in computing infrastructure and has been exploring relationships with multiple chip startups for training and inference hardware.

The potential MatX partnership would give Anthropic access to a specialized chip-design team without requiring the $7 billion acquisition previously discussed. For MatX, maintaining independence while pursuing a funding round could provide capital to advance its own chip roadmap while leaving open a commercial relationship with one of the largest AI model developers.

What the MatX Talks Mean for Nvidia

Nvidia remains a central supplier of the computing hardware used across the AI industry, but the development of custom processors by AI model companies creates an alternative path for controlling infrastructure costs and performance. Reuters has reported that Anthropic is among the AI companies pursuing its own chip development as demand for computing capacity continues to expand.

The shift from acquisition to partnership does not mean Anthropic is abandoning Nvidia-based infrastructure. Reuters reported that Anthropic is continuing to secure computing capacity from external providers while developing its own hardware, indicating that custom silicon is being pursued alongside existing sources of compute rather than as an immediate replacement.

For MatX, the next milestone is its planned fundraising at a valuation of about $4 billion and the development of chips expected to begin shipping in 2027. For Anthropic, the potential partnership could provide another route to accelerate its silicon program without completing the proposed $7 billion takeover.