The AI infrastructure startup Nexthop AI announced the completion of an oversubscribed $500 million Series B funding round, raising the company's valuation to approximately $4.2 billion.
Investors in this round include venture capital firms such as Andreessen Horowitz, Lightspeed Venture Partners, Altimeter Capital, and Kleiner Perkins.
The company stated that the funds raised will be used to accelerate the development of high-performance AI network infrastructure and launch three foundational network platform products.