TensorWave raises $100M to grow its AMD-powered cloud infrastructure

TensorWave, a data center provider building facilities primarily with AMD hardware, has raised $100 million as it seeks to further build out its data center infrastructure. The funding round was led by Magnetar and AMD Ventures, and brings the company’s total capital raised to $146.7 million, according to Crunchbase. Maverick Silicon, Nexus Venture Partners and Prosperity7 also participated in the round. It’s a precarious time for data center projects. Tariff-related price hikes on components like server racks and chips could contribute to overall data center build costs increasing by 5% to 15%, per an analysis by TD Cowen. Investors are also wary of such projects accumulating too much capacity, particularly as the number of cheap AI services continues to grow. Overcapacity is reportedly one of the factors delaying OpenAI’s ambitious $500-billion Stargate data center project. Las Vegas, Nevada-based TensorWave claims that it hasn’t seen a slowdown in business, however. The company ... Read full article.