Cornelis Networks lands $205M to expand AI networking gear

Cornelis Networks raised $205 million, led by IAG Capital Partners, the company said September 14, 2026. Spun out of Intel in 2020, it makes open networking fabric, the high-speed links connecting AI chips and GPUs. The funding will expand production of its CN5000 and CN6000 switches and bring next-generation products to market later in 2026.