Nexthop AI raises $500 million in Series B funding, valuing the company at $4.2 billion.

AI infrastructure company Nexthop AI announced the completion of a $500 million oversubscribed Series B funding round, raising its valuation to approximately $4.2 billion. Investors in this round included a16z, Lightspeed, Altimeter Capital, Battery Ventures, Emergent Ventures, Kleiner Perkins, U.S. Innovative Technology Fund (USIT), and WestBridge Capital. The company stated that the funds will be used to accelerate the construction of efficient AI network infrastructure and launch three foundational network platforms. The team currently has over 300 employees.