a16z Raises a $1.1B 'Machine Age' Fund, Its First Dedicated Hardware Vehicle

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Andreessen Horowitz announced on August 28 a $1.1 billion fund to back AI processors, memory, networking, storage, robotics, and data centers, led by Raghu Raghuram and Martin Casado. The firm's argument is that every layer of the hardware supply chain is now capacity constrained, from chips to memory to power, and that this is where returns have moved. Fifteen years after 'software is eating the world,' the software-first firm raising a hardware fund is itself the signal.