J.P. Morgan and Fidelity don't typically back sub-$2 billion AI chip startups. Their participation in SiMa.ai ’s oversubscribed $150 million Series C, closed September 28, 2026, puts institutional we…

Artificial intelligence chip startup SiMa Technologies Inc. today launched Palette Neat, a purpose-built agentic AI development environment for creating applications that connect the physical world to AI models. The new tool can be paired readily with the company’s Modalix MLSoC system-on-module or the company’s new PCIe companion card, allowing developers to rapidly build apps that can see, learn, adapt and interact with the real world. This is the vision of physical AI, where artificial intelligence models are used to power robotics, autonomous cars, drones, industrial machines, aerospace platforms, smart vision and more. “SiMa.ai is an AI software company that builds its own silicon,” said founder and Chief Executive Krishna Rangasayee. “Today, we are delivering the industry’s first agentic development environment for Physical AI.” Rangasayee explained that using Palette Neat, today’s developers will be able to take their knowledge and simply speak or type their ideas directly to the AI agent, which will take their abstract thoughts and build them directly into low-level compute code. This eliminates months of labor traditionally spent wiring up or porting and integrating applications onto new silicon. Often, developers spend months or weeks attempting to take new ideas and map them onto new silicon every time...

Micron and SiMa.ai announced a minority equity investment and supply partnership on Apr 8, 2026; Micron's memory support targets the growing edge inference market with McKinsey estimating AI could add $13T by 2030.