Cornelis Networks builds high-speed networking technology that allows processors and other hardware inside AI data centers to exchange data efficiently. The company spun out of Intel in 2020 and has grown from 40 to more than 250 employees, with customers including Dell, Lenovo, Supermicro, and Hewlett Packard Enterprise.
Led by IAG Capital Partners
The round is the largest reported venture capital raise for a Greater Philadelphia startup so far in 2026, signaling sustained investor appetite for AI networking infrastructure that sits below the chip layer. Alongside the funding, Cornelis announced a partnership with Qualcomm Technologies aimed at shaping next-generation AI data center designs, extending its reach beyond hardware sales into platform-level influence.