Cornelis raised $205M for a fabric that computes while it moves data.

Spun out of Intel in 2020, announced September 14 led by IAG Capital Partners, alongside a product called Active Compute Fabric (TechCrunch). The thesis is that a large share of GPU time is spent waiting for data, so the fabric processes and forwards simultaneously rather than acting as a dumb pipe. Cornelis is pitching an open architecture working across accelerator vendors, which is the same anti-lock-in argument that keeps reappearing one layer up in agent tooling.