Las Vegas-based TensorWave has raised a $350M Series B co-led by Magnetar and AMD Ventures at a $1.55B valuation to scale one of North America’s largest all-AMD Instinct GPU clusters, challenging Nvidia’s dominance in AI infrastructure.

TensorWave closed a $100M Series A co-led by AMD Ventures and Magnetar, deploying 8,192 AMD MI325X GPUs as it targets multi-gigawatt AI infrastructure

AMD-powered cloud startup TensorWave has raised $350M led by AMD and Magnetar at a $1.55bn valuation, nearly four times its worth a year ago, to challenge Nvidia.