TensorWave has raised $350 million in a Series B co-led by Magnetar and AMD Ventures at a $1.55 billion valuation, bringing total funding to approximately $493 million.
The Las Vegas startup operates one of the largest all-AMD AI training clusters in North America and has secured more than two gigawatts of long-term data centre capacity.
Its 28-year-old CEO, Darrick Horton landed on Forbes 30 Under 30 for AI for doing what Forbes called a “seemingly impossible mission”: breaking Nvidia’s dominance in AI infrastructure.
Darrick Horton was working on plasma physics for nuclear fusion at Lockheed Martin’s Skunk Works — the division responsible for the U-2 spy plane and the SR-71 Blackbird — when he decided his next problem was going to be AI compute.
In December 2023, he co-founded TensorWave with Jeff Tatarchuk and Piotr Tomasik, put their chips on AMD in a market almost entirely owned by Nvidia, and raised the largest startup funding in Nevada’s history within their first year. The company is now valued at $1.55 billion
