Latest news with #Magnetar
Associated Press
4 days ago
- Business
- Associated Press
CoreWeave Appoints Ernie Rogers to Strategic Leadership Role to Drive Next Phase of Financing Growth
LIVINGSTON, N.J., June 4, 2025 /PRNewswire/ -- CoreWeave, Inc. (Nasdaq: CRWV), the AI Hyperscaler™, today announced the appointment of Ernie Rogers as Chief Architect of Strategic Financing. Rogers brings decades of expertise in financial strategy and operational leadership. Rogers most recently served as Magnetar's Chief Operating Officer ('COO'), where he led the firm's operations and finances, including managing a diverse array of both back-office and select front-office teams. His leadership helped foster innovation and efficiency across Magnetar's platform. 'Ernie has been an invaluable partner since the beginning of CoreWeave, and we're thrilled to welcome him to the team,' said Michael Intrator, Co-Founder and Chief Executive Officer at CoreWeave. 'His deep understanding of our business makes him uniquely qualified to help drive our next phase of growth.' 'I've had the privilege to be part of the CoreWeave journey early on as an investment partner and as an operational advisor and board member,' said Ernie Rogers, Chief Architect, Strategic Financing at CoreWeave. 'There is no other player in the space like this company. I'm excited to keep working alongside the team to reach new heights.' 'We're proud to see Ernie take on this critical role at CoreWeave,' said David Snyderman, Managing Partner of Magnetar. 'He's played a meaningful part in our strategic approach to investing in transformational technology platforms, and his transition supports our strong confidence in CoreWeave's direction and leadership.' About CoreWeave CoreWeave, the AI Hyperscaler™, delivers a cloud platform of cutting-edge software powering the next wave of AI. The company's technology provides enterprises and leading AI labs with cloud solutions for accelerated computing. Since 2017, CoreWeave has operated a growing footprint of data centers across the US and Europe. CoreWeave was ranked as one of the TIME100 most influential companies and featured on Forbes Cloud 100 ranking in 2024. Learn more at View original content to download multimedia: SOURCE CoreWeave
Yahoo
4 days ago
- Business
- Yahoo
CoreWeave Appoints Ernie Rogers to Strategic Leadership Role to Drive Next Phase of Financing Growth
LIVINGSTON, N.J., June 4, 2025 /PRNewswire/ -- CoreWeave, Inc. (Nasdaq: CRWV), the AI Hyperscaler™, today announced the appointment of Ernie Rogers as Chief Architect of Strategic Financing. Rogers brings decades of expertise in financial strategy and operational leadership. Rogers most recently served as Magnetar's Chief Operating Officer ("COO"), where he led the firm's operations and finances, including managing a diverse array of both back-office and select front-office teams. His leadership helped foster innovation and efficiency across Magnetar's platform. "Ernie has been an invaluable partner since the beginning of CoreWeave, and we're thrilled to welcome him to the team," said Michael Intrator, Co-Founder and Chief Executive Officer at CoreWeave. "His deep understanding of our business makes him uniquely qualified to help drive our next phase of growth." "I've had the privilege to be part of the CoreWeave journey early on as an investment partner and as an operational advisor and board member," said Ernie Rogers, Chief Architect, Strategic Financing at CoreWeave. "There is no other player in the space like this company. I'm excited to keep working alongside the team to reach new heights." "We're proud to see Ernie take on this critical role at CoreWeave," said David Snyderman, Managing Partner of Magnetar. "He's played a meaningful part in our strategic approach to investing in transformational technology platforms, and his transition supports our strong confidence in CoreWeave's direction and leadership." About CoreWeave CoreWeave, the AI Hyperscaler™, delivers a cloud platform of cutting-edge software powering the next wave of AI. The company's technology provides enterprises and leading AI labs with cloud solutions for accelerated computing. Since 2017, CoreWeave has operated a growing footprint of data centers across the US and Europe. CoreWeave was ranked as one of the TIME100 most influential companies and featured on Forbes Cloud 100 ranking in 2024. Learn more at View original content to download multimedia: SOURCE CoreWeave 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
15-05-2025
- Business
- Yahoo
TensorWave secures $100m in Series A funding
TensorWave, an AMD-powered AI infrastructure solutions provider, has raised $100m in Series A funding to fuel growth. The funding round was led by Magnetar and AMD Ventures, with continued support from Maverick Silicon, Nexus Venture Partners, and new investor Prosperity7. The funding builds on TensorWave's earlier SAFE round and supports the deployment of more than 8,000 AMD Instinct MI325X GPUs for a dedicated training cluster. The company said it is on track to close the year with a revenue run rate exceeding $100m, marking a 20x year-over-year increase. The new capital will also be directed towards expanding TensorWave's team and accelerating the deployment of its Instinct MI325X-powered training cluster. This growth is timely as the demand for AI computing resources continues to outstrip supply, prompting organisations to seek alternatives to limited infrastructure options. TensorWave president Piotr Tomasik said: 'The $100m we've secured will transform how enterprises access AI computing resources. '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.' AMD Ventures' investment in TensorWave is part of its plans to enhance its footprint in the AI infrastructure space. This will ensure that AMD's new technologies are available in the cloud and at scale for leading AI companies and enterprises. TensorWave offers high-bandwidth, memory-optimised infrastructure powered by AMD Instinct Series GPUs, catering to the most demanding models in training or inference. "TensorWave secures $100m in Series A funding" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
Wamda
15-05-2025
- Business
- Wamda
Aramco-backed Prosperity7 joins TensorWave's $100 million round
US-based AI infrastructure startup TensorWave has raised $100 million in a funding round led by Magnetar and AMD Ventures, bringing its total raised capital to $146.7 million. Additional investors include Maverick Silicon, Nexus Venture Partners, and Prosperity7. Founded in 2023 by Darrick Horton, Jeff Tatarchuk, and Piotr Tomasik, TensorWave builds cloud services on AMD-based GPU infrastructure. The company has already launched a dedicated AI training cluster featuring 8,192 AMD Instinct MI325X GPUs. The new funding will be used to expand GPU clusters, hire additional talent—growing the team to over 100—and support ongoing operational growth. The company is on track to exceed $100 million in run-rate revenue by the end of 2025. Press release: Las Vegas-based AI infrastructure company TensorWave has secured $100 million in new funding to accelerate the development of data centres built primarily with AMD hardware. The round was led by Magnetar Capital and AMD Ventures, with additional participation from Maverick Silicon, Nexus Venture Partners, and Prosperity7. This latest investment brings TensorWave's total capital raised to $146.7 million, according to Crunchbase. Founded in 2023 by Darrick Horton, Jeff Tatarchuk, and Piotr Tomasik, TensorWave aims to provide more affordable and scalable cloud services by leveraging AMD's GPU capabilities. The company has already deployed a dedicated training cluster consisting of 8,192 AMD Instinct MI325X GPUs, reinforcing its early bet on AMD in a market largely dominated by Nvidia. With this new funding, TensorWave plans to expand its GPU cluster, grow its team from 40 to over 100 employees by year-end, and support operational growth as it scales to meet increasing AI infrastructure demand. CEO Horton emphasised the company's mission to democratise access to cutting-edge AI compute and projected that TensorWave will close the year with a run-rate revenue of over $100 million—a 20x increase year-over-year.
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
