According to TechCrunch, AI infrastructure company Cornelis announced on September 15, 2026, that it had completed a $205 million funding round led by IAG Capital Partners. Founded in 2020 as a spin-off from Intel, Cornelis aims to disrupt Nvidia's absolute dominance in the AI chip market by providing an open architecture. The funding also coincides with the launch of its Active Compute Fabric network architecture, which enhances communication efficiency and enables customers to integrate various GPUs and accelerator hardware with its network architecture.