MatX, a chip startup founded by two former Google hardware engineers, has raised a $500 million Series B led by Jane Street and Situational Awareness, an investment fund formed by former OpenAI researcher Leopold Aschenbrenner.

The company’s goal is to make its processors 10 times better at training LLMs and delivering results than Nvidia’s GPUs.  Other investors in the round include Marvell Technology, NFDG, Spark Capital, and Stripe co-founders Patrick Collison and John Collison.