Source: https://shorturl.at/AMWHn
AI GPU cloud platform TensorWave has closed a $43 million SAFE (simple agreements for future equity) funding round.
Led by Nexus VP, the round also included participation from Maverick Capital, Translink Capital, Javelin Venture Partners, Granite Partners, and AMD Ventures.
Under the terms of a SAFE round, investors have the right to convert their investment into company shares under certain circumstances, such as a priced round of investment or a liquidity event.
Founded in 2023, Las Vegas-based TensorWave provides companies with access to AI compute availability via AMD Instinct GPUs. In a statement, the company said it would use the funding to increase capacity at its primary data center by deploying thousands of MI300X GPUs.
The funding will also be used to grow the TensorWave team, lay the foundations for incorporating the next generation of AMD Instinct MI325X GPUs, and launch the company’s new enterprise inference platform, Manifest.
Designed to support larger context windows with reduced latency, TensorWave said Manifest will also be able to analyze complex documents in addition to providing accelerated reasoning and secure, private data storage.
“We are thrilled to have the support of such esteemed investors, partners, and the State of Nevada as we embark on this next phase of growth,” said Darrick Horton, CEO of TensorWave. “This funding allows us to significantly scale our team and deploy thousands of AMD Instinct AI accelerators to empower the startups and enterprises shaping our technological future. The future’s looking bright, and we’re excited to help bring it to life.”
GreyMatterz Thought:
TensorWave’s $43 million funding round is a major boost for its AI cloud platform. With plans to expand GPU capacity and launch the new Manifest platform, it’s set to grow rapidly in the AI compute space. Exciting times ahead for the company!
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