TensorWave provides companies with access to AI compute availability via AMD Instinct GPUs.
GPU cloud provider TensorWave has closed a $100 million Series A funding round. Magnetar and AMD Ventures led the fundraising, with participation from existing investors Maverick Silicom and Nexus Venture Partners, and new investor Prosperity7.
The Series A funding builds on TensorWave’s $43m simple agreements for future equity funding round which closed in October 2024. Founded in 2023, Las Vegas-based TensorWave provides companies with access to AI compute availability via AMD Instinct GPUs.
The latest funding will be used for “operational growth,” team expansion, and the “accelerated deployment of its Instinct MI325X-powered training cluster.”
“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.”
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The AMD MI325X GPU was unveiled in October 2024. The accelerator is built on the CDNA 3 architecture and features 256GB of HBM3E. AMD said at the time that it supports 6TBps, and offers 1.8x more capacity and 1.3x more bandwidth than Nvidia’s H200 GPU.
It also has 1.3x the peak theoretical FP16 and FP8 compute performance of the H200.
“TensorWave is a key player in the growing AMD AI ecosystem,” said Mathew Hein, Chief Strategy Officer and SVP Corporate Development, at AMD. “Its 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,” added Kenneth Safar, Managing Director at Maverick Silicon. “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.”
TensorWave has previously signed an AI infrastructure agreement with Tecfusions that will see the AI cloud company lease 1GW of AI capacity across the latter’s data centre portfolio.
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