Israeli networking software company DriveNets announced Monday it has raised $410 million in a funding round that included new investor Advanced Micro Devices Inc. (NASDAQ:AMD), as its focus broadens from artificial intelligence (AI) chips to the networking infrastructure powering large-scale deployments.
The round added AMD and Red Dot Capital Partners to DriveNets’ investor roster and pushed the company’s total capital raised to about $1 billion.
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Meeting Surging AI Demand
DriveNets develops networking software that enables telecom operators and data center providers to build high-speed AI networks using off-the-shelf hardware instead of costly proprietary systems.
