US AI infrastructure startup TensorWave has raised US$100 million in fresh funding to fuel its expansion, bringing total capital raised to US$146.7 million. The round was led by Magnetar Capital and AMD Ventures, with participation from Maverick Silicon, Nexus Venture Partners, and Prosperity7.
Founded in 2023 by Darrick Horton, Jeff Tatarchuk, and Piotr Tomasik, the Las Vegas-based firm builds cloud services using AMD-based GPU infrastructure. The company has already deployed a specialist AI training cluster featuring 8,192 AMD Instinct MI325X GPUs, positioning itself as a challenger in a market long dominated by Nvidia.
The funding will allow TensorWave to scale its GPU clusters, expand its workforce from 40 to over 100, and strengthen its operational capacity to meet rising demand for AI infrastructure. The business expects to surpass a US$100 million annualised revenue run-rate by the end of 2025.
Chief Executive Darrick Horton said the investment supports the company’s ambition to make advanced AI compute accessible to a wider range of innovators. “We believe AI infrastructure should be affordable, scalable and diverse — this backing accelerates our path to deliver on that promise,” he stated.
The round highlights growing investor appetite for alternatives in AI infrastructure, particularly around AMD-based solutions, as businesses seek to diversify away from established incumbents.
