Fully AMD-based AI cloud provider TensorWave has secured $350 million in a Series B funding round.. The round, co-led by Magnetar and AMD Ventures, saw TensorWave valued at $1.55 billion.. – TensorWave. The round also saw participation from Maverick Silicon, Nexus Venture Partners, and Western Frontier.. According to TensorWave, the funding will enable the AI cloud to continue expanding its AI infrastructure footprint, including the deployment of AMD Instinct MI355X GPU clusters.. “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,” added 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.”. DCD previously spoke to CEO Darrick Horton about the motivation behind the company’s choice to solely focus on AMD compute.. Horton said that, at the point of launching, everyone was trying to get access to Nvidia GPUs, and TensorWave “started studying that opportunity more, and found that there was an insatiable demand for access to compute, and customers didn’t really care if it was Nvidia or not.”. He added: “Ultimately, after a lot of research, we settled on AMD as a solution and decided to found the company with the stated goal of scaling AMD compute as a viable alternative to Nvidia, providing something that was different, truly differentiated, and unique in the marketplace. And we are still that. We are the world’s only AMD exclusive GPU cloud provider.”. TensorWave’s Series A round was held in May 2025 and saw the company raise $100m. Since then, it has launched an AI training cluster with 8,192 AMD Instinct MI325X GPUs online, and is preparing larger MI355X deployments across several new data center regions in North America. The company claims to have more than 2GW of long-term data center capacity secured.. TensorWave is a known customer of TecFusions. In January 2026, the company signed an additional 20MW capacity agreement with TecFusions for data centers in Pennsylvania and Arizona.. More in Cloud & Hyperscale. 20 Feb 2026. 23 Jan 2026. More in Investment / M&A / Financing. 13 Feb 2026
