Fidelity Management & Research Company

Tracked participation in 17 Atlas companies, with 3 explicitly attributed leads.

Firm website ↗

17portfolio companies

29round participations

3lead positions

$1.4Bled round total

Conviction

Most recent leads

The latest rounds this investor is sourced as leading, newest first.

Sep 2025CerebrasSeries G$1.1Bat $8.1B valuation May 2021TenstorrentSeries C$200Mat $1B valuation May 2021SiMa.aiSeries B$80M

Capital activity

Portfolio

CompanyLatest valuationFirst → latestRoundsRoleAttributed partner

OOpenAIFrontierOpenAI is a frontier AI research and deployment organization structured around a nonprofit mission and a for-profit…$730Bvaluation$399.6BraisedRecent roundsFunding round (new investment + valuation) · Sep 2026$110B · Amazon, NVIDIA +1Funding round (committed capital at close) · Mar 2026$122B · Altimeter, Amazon +37Equity financing (new investment) · Feb 2026$110B · Amazon, NVIDIA +1OpenAI$852BMar 2026 → Mar 20261 roundParticipant—

ZZiplinePhysical AIZipline is a robotics and “instant logistics” company that designs, manufactures, and operates autonomous delivery…$7.6Bvaluation$1.4BraisedRecent roundsSeries H (extension) · Mar 2026$200M · Baillie Gifford, Fidelity Management & Research Company +3Series H (initial tranche) · Jan 2026$600M · Baillie Gifford, Fidelity Management & Research Company +2Series F · Apr 2023$330MZipline$7.6BJan 2026 → Mar 20262 roundsParticipant—

WLWorld Labs—Feb 2026 → Feb 20261 roundParticipant—

AAnthropic$380BMar 2025 → Feb 20263 roundsParticipant—

RRunway—Apr 2025 → Feb 20262 roundsParticipant—

WWaymoPhysical AIWaymo (Waymo LLC) is an Alphabet subsidiary developing and operating commercial, fully autonomous driving technology…$126Bvaluation$26.4BraisedRecent roundsInvestment round (led by Dragoneer; majority investor Alphabet) · Feb 2026$16B · led by Dragoneer Investment Group, DST Global +1Oversubscribed investment round · Oct 2024$5.6B · led by AlphabetInvestment round · Jun 2021$2.5B · Alphabet, Andreessen Horowitz +10Waymo$126BJun 2021 → Feb 20262 roundsParticipant—

SSpaceXAI—May 2024 → Jan 20263 roundsParticipant—

DDatabricks$134BSep 2023 → Dec 20252 roundsParticipant—

CCrusoeNeocloudsCrusoe is an energy-first AI infrastructure company that builds and operates AI data center “factory” capacity and…$10Bvaluation$3.8BraisedRecent roundsSeries E (initial closing) · Oct 2025$1.4B · led by Mubadala Capital, Valor Equity PartnersCredit facility (debt) · Aug 2025$175M · led by Victory Park CapitalCredit facility (debt) · Jun 2025$750M · led by Brookfield Asset Management (infrastructure debt platform)Crusoe$10BOct 2025 → Oct 20251 roundParticipant—

CCerebras$8.1BSep 2025 → Sep 20251 round1 led—

NNscaleNeocloudsNscale is a privately held AI infrastructure company building and operating “full-stack” neocloud capacity—covering…$14.6Bvaluation$9.8BraisedRecent roundsDebt (Delayed Draw Term Loans; senior secured) · Aug 2026$3B · Goldman Sachs, J.P. MorganRevolving credit facility (debt) · Jul 2026$900M · Bank of America, Crédit Agricole CIB +11Financing for Narvik expansion (debt/structured financing) · May 2026$790M · ABN AMRO, DNB +3Nscale—Sep 2025 → Sep 20251 roundParticipant—

TTenstorrent$2BMay 2021 → Dec 20242 rounds1 led—

AAnduril$14BAug 2024 → Aug 20241 roundParticipant—

CCoreWeaveNeocloudsCoreWeave, Inc. is a GPU-focused “AI-native” cloud infrastructure provider delivering compute, storage, and…$32.8BraisedRecent roundsDebt financing (delayed draw term loan facility / DDTL 5.5) · Aug 2026$2.6B · Not specified in the sourced text excerptDebt financing (loan facility) · 2026-04-??$8.5B · Not specified in the sourced text excerptPIPE / secondary primary common stock investment (equity) · 2026-03-??$2B · NVIDIACoreWeave—May 2024 → May 20241 roundParticipant—

SSiMa.aiChipsSiMa.ai (SiMa Technologies, Inc.) builds machine-learning systems-on-chip (MLSoC) technology and a software…$362MraisedRecent roundsStrategic investment (equity; amount not disclosed) · Apr 2026Micron Technology, Inc.Oversubscribed round · Aug 2025$85M · led by Maverick CapitalAdditional funding (post-Series B / growth round as described by SiMa.ai) · Apr 2024$70M · led by Maverick CapitalSiMa.ai—May 2021 → Apr 20244 rounds1 led—

GGenerate:BiomedicinesScienceGenerate:Biomedicines (Nasdaq: GENB) is a clinical-stage therapeutics company focused on “generative biology”: a…$1.1BraisedRecent roundsIPO (initial public offering) · Feb 2026$400M · Cantor Fitzgerald & Co., Goldman Sachs & Co. LLC +3Series C · Sep 2023$273M · Abu Dhabi Investment Authority (ADIA) wholly-owned subsidiary, Abu Dhabi Investment Authority (wholly-owned subsidiary) +10Series B · Nov 2021$370M · Abu Dhabi Investment Authority (ADIA) wholly-owned subsidiary, Abu Dhabi Investment Authority (wholly-owned subsidiary) +8Generate:Biomedicines—Sep 2023 → Sep 20231 roundParticipant—

LLightmatter—May 2023 → May 20231 roundParticipant—

DateCompanyRoundRaisedValuationRoleEvidence

Mar 31, 2026OOpenAIFrontierOpenAI is a frontier AI research and deployment organization structured around a nonprofit mission and a for-profit…$730Bvaluation$399.6BraisedRecent roundsFunding round (new investment + valuation) · Sep 2026$110B · Amazon, NVIDIA +1Funding round (committed capital at close) · Mar 2026$122B · Altimeter, Amazon +37Equity financing (new investment) · Feb 2026$110B · Amazon, NVIDIA +1OpenAIFunding round (committed capital at close)$122B$852BParticipant