#chips #google #nvidia - A Tiny Startup Helping Google Take On Nvidia Is Now Worth $18 Billion: Forbes Daily Briefing

8 September 2026 

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minutes ago Read the full story on Forbes:

Forbes Daily Briefing

https://www.forbes.com.au/news/innovation/fluidstack-is-now-worth-18-billion/

Fluidstack

Fluidstack builds civilization-scale infrastructure for AI, delivering gigawatts of compute in 6 months. We're leading the deployment of …

A little-known company called Fluidstack has become a test bed for Google’s plans to sell its own AI chip. That’s helped it hit a $18 billion valuation and minted its founders as new billionaires

1. Fluidstack, a British AI infrastructure startup, has reached an $18 billion valuation while serving as a proving ground for Google’s AI chip expansion.

   Company Background

   Fluidstack was founded in 2017 in the UK, initially helping gamers rent out GPUs to AI researchers, effectively monetizing idle computing power forbes.com.au. Despite its low profile, the startup has become a key player in AI infrastructure, supporting Google’s efforts to scale its Tensor Processing Units (TPUs) for enterprise use forbes.com.au+1.

   Role in Google’s AI Strategy

   Google has used its TPUs for over a decade to power AI applications, including self-driving cars, YouTube, and search algorithms forbes.com.au. Fluidstack now acts as a test bed for Google’s plans to expand TPU sales beyond Google Cloud, positioning the startup as a strategic partner in competing with Nvidia’s AI chips forbes.com.au+1. Notably, in October 2025, Google sold up to 1 million TPUs to Anthropic for building the next-generation Claude AI, marking a major milestone in TPU commercialization forbes.com.au.

   Funding and Valuation

   Fluidstack had previously raised $750 million at a $7.5 billion valuation in July 2026. It later secured a $1.5 billion funding round led by Jane Street, pushing its valuation above $18 billion alpha-maven.com. The company’s founders have become billionaires as a result of this rapid growth forbes.com.au.

   Market Context

   The AI hardware market is experiencing unprecedented demand, with Google’s AI division facing a $514 billion backlog forbes.com.au. Fluidstack’s infrastructure capabilities are critical in helping Google meet this demand and provide a viable alternative to Nvidia’s dominant AI chips, highlighting the startup’s strategic importance in the AI ecosystem forbes.com.au+1.

   Summary

   Fluidstack exemplifies how a small, low-profile startup can play a pivotal role in the AI hardware race. By enabling Google to scale TPU deployment and compete with Nvidia, the company has achieved a remarkable $18 billion valuation, reflecting both its technological impact and strategic positioning in the rapidly growing AI market forbes.com.au+1.