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Frore Systems Inc. raised $143 million in Series D funding, achieving a valuation of $1.64 billion. The round was led by MVP Ventures with participation from Fidelity Management, Top Tier, Mayfield Fund, and Qualcomm Ventures.

Frore develops liquid cooling technology for AI chips, particularly the LiquidJet Nexus tray, which circulates coolant through 3-D channels to enhance heat dissipation. Founded eight years ago by former Qualcomm engineers, the company shifted focus to data centers due to the increasing demands of AI workloads. Frore plans to use the new capital to expand its manufacturing operations, currently located in Taiwan, to meet rising demand from cloud providers and enterprises.