Latest news with #DarrickHorton
Yahoo
14-05-2025
- Business
- Yahoo
TensorWave raises $100M to grow its AMD-powered cloud infrastructure
TensorWave, a data center provider building facilities primarily with AMD hardware, has raised $100 million as it seeks to further build out its data center infrastructure. The funding round was led by Magnetar and AMD Ventures, and brings the company's total capital raised to $146.7 million, according to Crunchbase. Maverick Silicon, Nexus Venture Partners and Prosperity7 also participated in the round. It's a precarious time for data center projects. Tariff-related price hikes on components like server racks and chips could contribute to overall data center build costs increasing by 5% to 15%, per an analysis by TD Cowen. Investors are also wary of such projects accumulating too much capacity, particularly as the number of cheap AI services continues to grow. Overcapacity is reportedly one of the factors delaying OpenAI's ambitious $500-billion Stargate data center project. Las Vegas, Nevada-based TensorWave claims that it hasn't seen a slowdown in business, however. The company is on track to end the year with run-rate revenue of more than $100 million, which would mark a 20x increase from a year earlier, according to CEO Darrick Horton (pictured above; in the middle). Nvidia is the favored hardware vendor for data centers that are used for training and running AI models. But TensorWave embraced AMD early on, aiming to provide cloud services at lower prices. TensorWave recently deployed a "dedicated training" cluster of around 8,000 AMD Instinct MI325X GPUs. The new capital will enable the company to grow that cluster, as well as expand headcount and support "operational growth," said Horton. TensorWave has a team of around 40 people at present, and expects headcount to reach over 100 by the end of the year. "This $100 million funding propels TensorWave's mission to democratize access to cutting-edge AI compute," Horton added. "Our 8,192 Instinct MI325X GPU cluster marks just the beginning as we establish ourselves as the emerging AMD-powered leader in the rapidly expanding AI infrastructure market." Other data center providers placing bets on AMD's AI chips range from startups like Lamini and Nscale to larger, more entrenched cloud providers such as Azure and Oracle. Horton co-founded TensorWave with Jeff Tatarchuk (pictured above; on the left) and Piotr Tomasik (pictured above; on the right) in 2023. Tatarchuk had previously launched cloud vendor VMAccel with Horton, and sold another startup, Lets Rolo, to digital identity firm LifeKey. Horton co-founded crypto mining company VaultMiner Technologies, VMAccel's corporate parent. As for Tomasik, he co-launched influencer marketer site Influential, and is the second co-founder of Lets Rolo. This article originally appeared on TechCrunch at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
TensorWave Secures $100 Million Series A Funding Co-Led by Magnetar and AMD Ventures
Funding Fuels Rapid Deployment of Massive AMD Instinct MI325X GPU Training Cluster and Supports Scaling for Surging AI Infrastructure Needs LAS VEGAS, May 14, 2025--(BUSINESS WIRE)--TensorWave, the emerging leader in AMD-powered AI infrastructure solutions, today announced it has raised $100 million in Series A funding. Magnetar and AMD Ventures led the round, with continued support from Maverick Silicon, Nexus Venture Partners, and new investor Prosperity7. This funding builds on the company's earlier SAFE round and positions TensorWave to capitalize on the growing demand for next-gen AI compute infrastructure. The investment aligns with TensorWave's deployment of over 8,000 AMD Instinct™ MI325X GPUs for a dedicated training cluster, establishing the company as a key player in the AI infrastructure ecosystem. TensorWave is on track to close the year with a revenue run rate exceeding $100 million — a 20x year-over-year increase. "This $100M funding propels TensorWave's mission to democratize access to cutting-edge AI compute," said Darrick Horton, CEO of TensorWave. "Our 8,192 Instinct MI325X GPU cluster marks just the beginning as we establish ourselves as the emerging AMD-powered leader in the rapidly expanding AI infrastructure market." The new capital will fuel TensorWave's operational growth, team expansion, and the accelerated deployment of its Instinct MI325X-powered training cluster. This growth comes at a pivotal moment, as demand for AI computing resources continues to outstrip supply and organizations seek alternatives to limited infrastructure options. "The $100 million we've secured will transform how enterprises access AI computing resources," said Piotr Tomasik, President of TensorWave. "Through careful cultivation of strategic partnerships and investor relationships, we've positioned TensorWave to solve the critical infrastructure bottleneck facing AI adoption. Our Instinct MI325X cluster deployment isn't just about adding capacity, it's about creating an entirely new category of enterprise-ready AI infrastructure that delivers both the memory headroom and performance reliability that next-generation models demand." "Our focus is to continue to expand the ecosystem and support developers with the tools, infrastructure, and performance they need to create, scale, and ship production-ready AI," shares Jeff Tatarchuk, TensorWave's Chief Growth Officer. AMD Ventures' strategic investment in TensorWave reinforces the commitment of AMD to expand its footprint in the AI infrastructure space and ensures its latest technologies are available in the cloud and at-scale for leading AI companies and enterprises. "TensorWave is a key player in the growing AMD AI ecosystem," said Mathew Hein, SVP Chief Strategy Officer & Corporate Development, AMD. "Their expanding portfolio of AI and enterprise customers coupled with their expertise in deploying AMD compute infrastructure is driving demand for access to their cutting-edge AI compute services. We're excited to support their next phase of growth." "We continue to be highly impressed by what the TensorWave team has built in just a short period of time. TensorWave is not just bringing more compute but rather an entirely new class of compute to a capacity-constrained market. We think this will be highly beneficial to the AI infrastructure ecosystem writ large, and we're thrilled to continue our support of the company," said Kenneth Safar, Managing Director at Maverick Silicon. The funding comes at a time when the AI infrastructure market is experiencing unprecedented growth, with recent industry reports projecting the AI infrastructure market to exceed $400 billion by 2027. TensorWave's focus on technology-powered solutions and continued partnerships with firms like TECFusions positions the company to capture a significant portion of this expanding market. For additional information please visit: About TensorWave TensorWave is the AI and HPC cloud purpose-built for performance. Powered exclusively by AMD Instinct™ Series GPUs, we deliver high-bandwidth, memory-optimized infrastructure that scales with your most demanding models—training or inference. For more information please visit View source version on Contacts Media Contact: press@ Sign in to access your portfolio
The Star
14-05-2025
- Business
- The Star
AI infrastructure firm TensorWave raises $100 million in latest funding
A message reading "AI artificial intelligence", a keyboard, and robot hands are seen in this illustration taken January 27, 2025. REUTERS/Dado Ruvic/Illustration (Reuters) -TensorWave, a Las Vegas-based startup, announced on Wednesday that it has secured $100 million in the latest funding round, as it aims to capitalize on the rapidly expanding AI infrastructure market. The company, however, did not disclose the valuation at which the funding was raised. The Series A funding round was led by Magnetar and AMD Ventures along with participation from existing partners, including Maverick Silicon and Nexus Venture Partners, and new investor Prosperity7. With the growing demand for AI computing resources, companies such as TensorWave are emerging as key players by offering the tools and infrastructure required to efficiently train AI models and optimize workloads. "The funding comes at a time when the AI infrastructure market is experiencing unprecedented growth, with recent industry reports projecting the AI infrastructure market to exceed $400 billion by 2027", the company said. With the latest fundraise, the startup plans to scale operations, expand its team and accelerate the deployment of AMD-powered GPU clusters tailored for AI model training. "This $100M funding propels TensorWave's mission to democratize access to cutting-edge AI compute," said TensorWave CEO Darrick Horton. (Reporting by Priyanka.G in Bengaluru; Editing by Vijay Kishore)
Yahoo
14-05-2025
- Business
- Yahoo
AI infrastructure firm TensorWave raises $100 million in latest funding
(Reuters) -TensorWave, a Las Vegas-based startup, announced on Wednesday that it has secured $100 million in the latest funding round, as it aims to capitalize on the rapidly expanding AI infrastructure market. The company, however, did not disclose the valuation at which the funding was raised. The Series A funding round was led by Magnetar and AMD Ventures along with participation from existing partners, including Maverick Silicon and Nexus Venture Partners, and new investor Prosperity7. With the growing demand for AI computing resources, companies such as TensorWave are emerging as key players by offering the tools and infrastructure required to efficiently train AI models and optimize workloads. "The funding comes at a time when the AI infrastructure market is experiencing unprecedented growth, with recent industry reports projecting the AI infrastructure market to exceed $400 billion by 2027", the company said. With the latest fundraise, the startup plans to scale operations, expand its team and accelerate the deployment of AMD-powered GPU clusters tailored for AI model training. "This $100M funding propels TensorWave's mission to democratize access to cutting-edge AI compute," said TensorWave CEO Darrick Horton. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
AI infrastructure firm TensorWave raises $100 million in latest funding
(Reuters) -TensorWave, a Las Vegas-based startup, announced on Wednesday that it has secured $100 million in the latest funding round, as it aims to capitalize on the rapidly expanding AI infrastructure market. The company, however, did not disclose the valuation at which the funding was raised. The Series A funding round was led by Magnetar and AMD Ventures along with participation from existing partners, including Maverick Silicon and Nexus Venture Partners, and new investor Prosperity7. With the growing demand for AI computing resources, companies such as TensorWave are emerging as key players by offering the tools and infrastructure required to efficiently train AI models and optimize workloads. "The funding comes at a time when the AI infrastructure market is experiencing unprecedented growth, with recent industry reports projecting the AI infrastructure market to exceed $400 billion by 2027", the company said. With the latest fundraise, the startup plans to scale operations, expand its team and accelerate the deployment of AMD-powered GPU clusters tailored for AI model training. "This $100M funding propels TensorWave's mission to democratize access to cutting-edge AI compute," said TensorWave CEO Darrick Horton. Sign in to access your portfolio
