Cornelis Networks, spun out of Intel in 2020, raised $205 million led by IAG Capital Partners and announced Active Compute Fabric, an architecture that puts programmable compute inside the network so operations such as collective reductions happen while data moves between accelerators rather than on the accelerators themselves. The pitch is GPU idle time: much of a cluster's time is spent waiting for data. Cornelis is vendor neutral, which is the contrast it draws with Nvidia's InfiniBand and NVLink, and the money goes into production of its CN5000 and CN6000 switches. The company is working with Qualcomm on rack scale AI infrastructure.