Investment meets surging enterprise demand for scalable, high-performance AMD-based AI compute
TensorWave, the all-AMD AI cloud specializing in high-performance, memory-intensive workloads, today announced it has raised $350 million in Series B funding. The round was co-led by Magnetar and AMD Ventures, with continued participation from Maverick Silicon, Nexus Venture Partners, and Western Frontier.
The new capital will support the expansion of TensorWave’s global AI infrastructure footprint, including the deployment of next-generation AMD Instinct™ MI355X GPU clusters designed for memory-intensive workloads such as large language model training, high-throughput inference, and generative AI applications. As demand for AI compute accelerates worldwide, TensorWave’s focus on open-ecosystem, high-bandwidth infrastructure provides organizations an alternative to capacity-constrained, vertically integrated GPU supply chains.
TensorWave is already seeing adoption across next-generation AI companies, including Fireworks AI and Luma AI, which are leveraging the company’s AMD-based infrastructure to power large-scale generative AI workloads and production inference systems.
“The next phase of AI will be defined by who can access enough compute to move from experimentation to production,” said Darrick Horton, CEO and Co-Founder of TensorWave. “As models grow larger and workloads become more demanding, enterprises need infrastructure with the memory capacity, performance, and flexibility to scale without being locked into a single ecosystem. This investment allows TensorWave to bring AMD Instinct MI355X GPU deployments to more customers and continue building the open, AMD-powered foundation for production AI.”
“As demand for AI infrastructure continues to grow, TensorWave is well positioned to help enterprises scale AI deployments with high-performance, AMD-powered compute,” said Sagi Paz, Head of AMD Ventures. “Their commitment to open, flexible infrastructure aligns strongly with the AMD ecosystem and we are pleased to support their next phase of growth.”
TensorWave has expanded significantly following its Series A in May 2025. The company now operates one of the largest AMD-based AI training clusters in North America, with 8,192 AMD Instinct MI325X GPUs online, and is preparing larger MI355X deployments across several new data center regions in North America. TensorWave has also secured more than 2 gigawatts of long-term data center capacity to support growing adoption from enterprise, research, and AI-native customers. As part of this growth, TensorWave is continuing to invest in its Las Vegas headquarters and plans to expand hiring across engineering, infrastructure, operations, sales, and customer success roles.
“The most ambitious AI builders need infrastructure that can keep pace with them right now, at a scale very few providers can deliver,” said Piotr Tomasik, President and Co-Founder of TensorWave. “The continued trust of exceptional investors validates our approach: reliable, scalable compute purpose-built for the most demanding production workloads, backed by 24/7 support, and a footprint designed to serve customers globally. This funding accelerates our ability to meet that demand while building a world-class team within the Las Vegas startup community.”
“The race to build AI infrastructure has created urgent demand for providers who can deliver at speed without sacrificing reliability," said Ross Laser, Co-Founder and President of Magnetar. "TensorWave's partnership with AMD and its disciplined execution make it exactly that – and we believe it is positioned to become one of the most important compute providers for AMD-based AI workloads.”
For additional information, please visit: https://tensorwave.com
About TensorWave
TensorWave is the AI cloud purpose-built for performance. Powered exclusively by AMD Instinct™ Series GPUs, TensorWave delivers high-bandwidth, memory-optimized infrastructure that scales with the most demanding training and inference workloads. Backed by funding from investors including Magnetar, AMD Ventures, and Nexus Venture Partners, TensorWave operates one of the world's largest all-AMD GPU clouds and is expanding rapidly to meet global demand. For more information, please visit tensorwave.com.
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