Positron AI is a U.S.-based AI semiconductor and infrastructure company focused on AI inference—the process of running trained AI models in production at scale. As AI applications move from training to deployment, compute economics are increasingly shaped by latency, power consumption, memory capacity, and cost per token. Positron is developing purpose-built inference hardware for transformer-based workloads in a market currently dominated by NVIDIA. Positron's Atlas inference platform is already shipping. In company-reported benchmarks, Atlas delivers more than 3x performance per dollar, more than 4x performance per watt, and up to 3x lower latency in selected production workloads. Its next-generation Asimov accelerator is designed to provide up to 2.3 TB of memory per chip for large-model inference workloads. The company has announced commercial engagement with Oracle Cloud Infrastructure and Jump Trading. Jump initially engaged with Positron as a customer and subsequently became a co-lead investor in Positron's $230 million Series B, announced at a valuation exceeding $1 billion. In July 2026, Positron was reported to be in discussions regarding approximately $750 million of financing through a two-phase structure that could value the company at up to approximately $5 billion. The financing remains subject to final terms and closing. Bloomberg HCV previously invested in Groq, another purpose-built AI-inference company. That investment was realized in March 2026. HCV's Groq Investment Current Positron Opportunity Missed Groq? Positron May Be the Next Opportunity. Positron is a separate company with different technology, development milestones, capitalization, and risk factors. However, both companies operate within the broader shift toward faster, more efficient, and more economical AI inference. The Groq result is not a projection of Positron's performance. It reflects HCV's prior experience accessing this category and identifying opportunities in AI-inference infrastructure. Kindly refer to the Offering Memorandum for a detailed overview of the offering terms and conditions. Accredited Investors only. Private-company investments are speculative, illiquid, and involve a substantial risk of loss, including loss of the entire investment. Company-reported performance metrics, financing discussions, valuations, product specifications, and development timelines may change. Past performance is not indicative of future results. Any offering will be made only through definitive offering documents.HCV's AI-Inference Track Record