Spanish Startup iPronics Secures $125 Million for AI Data Center Chips

iPronics, a startup based in Valencia, Spain, has secured $125 million in venture capital from investors including Nvidia. The funding round was co-led by Maverick Silicon and Light Street Capital.

The company is working on an optical circuit switch (OCS), a type of switching chip used in data centers to connect computing chips. OCS has gained popularity after Google's success with it for its AI supercomputers.

iPronics aims to reduce the size of the OCS equipment by 20-fold, allowing more switches to fit in a server rack. The company has been shipping its switches for about a year and is working with large AI infrastructure providers that it declined to name.