AI GPU cloud platform company TensorWave announced the closing of a $43 million SAFE funding round. This funding round – which was led by Nexus VP, marks the largest SAFE funding for any Nevada-based startup so far. And other investors in this round include Maverick Capital, Translink Capital, Javelin Venture Partners, StartupNV, and AMD Ventures.
With this wave funding round, TensorWave will increase capacity at their primary data center by deploying thousands of AMD Instinct MI300X GPUs. They will also scale their team, launch their new inference platform, and lay the foundation for incorporating the next generation of AMD Instinct GPUs, the MI325X.
TensorWave plays a major role in democratizing compute for AI workloads, providing a competitive alternative in a market where the competition is slim. By leveraging AMD Instinct Series GPUs, TensorWave’s cloud-based solutions offer unparalleled scalability and performance, eliminating long wait times and the complexities of on-prem server management.
TensorWave is solving two key challenges in the AI and ML industry: GPU availability and GPU optionality. And the company offers startups, enterprises, and researchers a more accessible and powerful compute solution at a superior price-to-performance ratio.
TensorWave’s deployment of AMD Instinct GPUs positions their cloud service at the forefront of this expanding market, offering critical infrastructure for the next generation of AI applications.
For Q4 2024, TensorWave is set to launch Manifest — which is an enterprise inference platform designed to support larger context windows with reduced latency. And Manifest enables efficient analysis of complex documents, providing accelerated reasoning and secure, private data storage.
KEY QUOTES:
“AMD Ventures shares TensorWave’s vision to transform AI compute infrastructure. Their deployment of the AMD Instinct MI300X and ability to offer public instances to AI customers and developers positions them as an early competitor in the AI space, and we are excited to support their growth through this latest round of funding.”
-Mathew Hein, Senior Vice President, Chief Strategy Officer and Corporate Development at AMD
“We are thrilled to have the support of such esteemed investors, partners, and the State of Nevada as we embark on this next phase of growth. This funding allows us to significantly scale our team and deploy thousands of AMD Instinct AI accelerators to empower the startups and enterprises shaping our technological future. The future’s looking bright, and we’re excited to help bring it to life.”
-Darrick Horton, CEO of TensorWave
“TensorWave has impressed with their mission, vision, and rapid execution. We’re thrilled to support this dynamic startup, which is poised to lead AI cloud computing with AMD GPUs. Their deep expertise in both the physical plant and software elements of cloud compute and artificial intelligence, along with their commitment to fostering a competitive, open-source future for AI, makes them an exciting company to watch as they continue to scale.”
-Brendan Walsh, Venture Partner at Translink Capital
“Nexus VP is honored to lead this landmark funding round for TensorWave. TensorWave’s innovative approach to AI compute infrastructure, combined with their strategic use of AMD AI GPU technology, uniquely positions them as a trailblazer in the industry. We are thrilled to support Darrick, Piotr, Jeff and team, as they redefine the landscape of AI computing.”
-Jishnu Bhattacharjee, Managing Director at Nexus Venture Partners
“TensorWave’s strategic vision and exceptional founding team distinguish them in the industry. We believe TensorWave’s solutions are essential to the foundational infrastructure of AI. It’s also a proud moment that this innovative startup hails from the great state of Nevada.”
-Jeff Saling, Executive Director at StartupNV
“TensorWave is building mission-critical infrastructure needed to satisfy the explosive growth in demand for high-performance compute. Since first meeting the team, we’ve been impressed by their commitment to technical excellence and we remain excited to support the company in bringing a much-needed product to market at a pivotal point in the era of AI computing.”
-Andrew Homan, Senior Managing Director at Maverick Capital
