TensorWave Raises $350 Million to Expand AMD-Powered AI Cloud
TensorWave raised $350 million in Series B funding to expand AMD-powered AI cloud infrastructure and provide an alternative to Nvidia hardware.
Cloud-computing startup TensorWave raised $350 million in a Series B funding round led by Advanced Micro Devices (AMD) and Magnetar Capital, valuing the Las Vegas-based company at $1.55 billion. The company explicitly avoids Nvidia hardware, utilizing AMD hardware and software to offer AI labs and enterprise customers an alternative to the market leader's infrastructure.
TensorWave currently operates three data centers located in Pennsylvania, Arizona, and Florida. The startup intends to use the new capital to increase its capacity from 500 megawatts to 2 gigawatts by deploying additional data centers and critical power equipment.
To strengthen its competitive position, TensorWave collaborated with AMD to enhance the ROCm software platform, aiming to challenge the dominance of Nvidia's CUDA library. This expansion seeks to address urgent demand for reliable, high-speed AI infrastructure providers.
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