Torus Raises $500 Million for Modular AI Data Centers
Torus raised $500 million in Series C funding to manufacture Foundry, modular AI data center units designed to bypass power infrastructure delays.
Torus, a Salt Lake City-based energy-storage startup, raised $500 million in Series C funding to manufacture its Foundry modular AI data center product. The funding round was led by Magnetar, with additional participation from Iconiq Capital, Origin Ventures, and Trinity Capital.
Foundry consists of shipping container-sized units that integrate batteries with AI computing for inference tasks ranging from one to 20 megawatts. CEO Nate Walkingshaw stated that the product is a "distributed data-center approach to move the chips to the power that’s already there." These units can be installed within four months at sites with excess grid power capacity, allowing businesses to avoid the long timelines and high costs associated with large-scale campus construction.
Hydra Host is among the first customers to utilize the technology. The initiative targets a critical bottleneck for U.S. data-center developers who currently struggle with limited power availability and infrastructure delays.
