TensorWave, a Las Vegas-based data center provider specializing in AMD-powered AI infrastructure, has secured $100 million in Series A funding to accelerate its growth in the rapidly expanding AI cloud market.
The funding round was co-led by investment firm Magnetar and AMD Ventures, with participation from existing investors Maverick Silicon and Nexus Venture Partners, as well as new investor Prosperity7. This latest investment brings TensorWave's total capital raised to $146.7 million, following a $43 million SAFE round completed in October 2024.
Founded in 2023 by Darrick Horton, Jeff Tatarchuk, and Piotr Tomasik, TensorWave has positioned itself as a key player in the AMD-powered AI infrastructure space. The company recently deployed a dedicated training cluster featuring over 8,000 AMD Instinct MI325X GPUs, designed to deliver specialized AI model training capabilities.
"This $100 million funding propels TensorWave's mission to democratize access to cutting-edge AI compute," said CEO Darrick Horton. "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."
The fresh capital will enable TensorWave to scale operations, expand its team from the current 40 employees to over 100 by year-end, and accelerate the deployment of additional AMD-powered GPU clusters. The company is targeting a projected annual revenue run rate exceeding $100 million by the end of 2025—representing a 20x year-over-year increase.
TensorWave's funding comes at a strategic time as the global AI infrastructure market continues to experience unprecedented growth, with industry reports projecting it to exceed $400 billion by 2027. While competitors like CoreWeave and Lambda Labs have secured larger funding rounds for their NVIDIA-based offerings, TensorWave's capital-efficient approach and exclusive focus on AMD hardware allow it to offer an alternative in a market where demand for AI compute currently outpaces supply.