Positron, an AI chip startup based in Reno, Nevada, has successfully raised $23.5 million in seed funding. The funding round was backed by notable investors including Flume Ventures, Valor Equity Partners, and Atreides Management. This investment comes shortly after Mitesh Choudhary joined Positron as CEO. The company focuses on designing and manufacturing energy-efficient AI chips intended for inference, with production taking place in Arizona. Positron aims to compete with established players like Nvidia in the AI hardware market, and further announcements regarding the startup's cloud customer are anticipated.