# Source Foundry

> Stealth semiconductor manufacturing equipment startup targeting lithography bottlenecks for AI chips.

## Why it is interesting

Source Foundry is not another AI accelerator fabless story — it attacks the machines that make the chips. Sequoia-backed and absorbing ~$500M from Situational Awareness (including a ~$400M check reported Aug 2026) at a press-sourced ~$5B valuation shows private capital pricing ASML-class tooling scarcity like model labs.

## Profile

- **Stage:** growth
- **Status:** private
- **Industries:** hardware-semiconductors, deep-tech, ai-ml
- **Coverage:** full
- **Last updated:** 2026-08-10

## Key facts

- Situational Awareness investment (Aug 2026): ~$400M new capital; ~$500M cumulative from the hedge fund; ~$5B valuation in secondary press (WSJ via TechCrunch / Benzinga)
- Venture backer: Sequoia Capital (/fund/sequoia); partner Stephanie Zhan has publicly described the lithography / manufacturing-tool thesis
- Founded 2025 by Stanford researchers Abdulmalik Obaid and Joe Burg; California incorporation ~July 2025 per reporting
- Stealth / pre-commercial status in public reporting — underwrite as thesis + team, not installed-base tool vendor

## Investors in our directory

- https://venturecapitaltracker.com/fund/sequoia

## Related articles

- https://venturecapitaltracker.com/2026-source-foundry-400m-sequoia-situational-awareness
- https://venturecapitaltracker.com/2026-august-9-10-investment-news-chips-infra-biotech

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Source: https://venturecapitaltracker.com/startup/source-foundry