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.