TensorWave Raises $350M Series B to Challenge Nvidia’s AI Infrastructure Dominance

Quick Facts

• TensorWave raised $350 million in Series B funding at a $1.55 billion valuation, nearly quadrupling its value from 2025
• The company operates exclusively on AMD hardware with 8,192 AMD Instinct MI325X GPUs across three data centers
• Magnetar and AMD Ventures co-led the round, marking Nevada’s largest Series B funding in state history

TensorWave closed a $350 million Series B funding round on June 10, 2026, achieving a $1.55 billion post-money valuation that nearly quadruples its $400 million valuation from last year. The round was co-led by Magnetar and AMD Ventures, with participation from existing investors Maverick Silicon, Nexus Venture Partners, and Western Frontier.

The Nevada-based startup has raised approximately $493 million total since its 2023 founding. The company operates one of the largest AMD-based AI training clusters in North America, with 8,192 AMD Instinct MI325X GPUs online across data centers in Arizona, Florida, and Pennsylvania.

TensorWave distinguishes itself by refusing to use Nvidia hardware. The company relies exclusively on AMD’s Instinct GPU lineup, including the MI300X, MI325X, and MI355X series. CEO Darrick Horton, a 28-year-old former Lockheed Martin Skunk Works researcher, co-founded the company with Jeff Tatarchuk and Piotr Tomasik in December 2023.

‘The next phase of AI will be defined by who can access enough compute to move from experimentation to production,’ Horton said. ‘As models grow larger and workloads become more demanding, enterprises need infrastructure with the memory capacity, performance, and flexibility to scale without being locked into a single ecosystem.’

The company claims its infrastructure delivers up to 70% lower cost per million tokens compared to other inference stacks. TensorWave’s physical partitioning technology allows customers to serve up to eight concurrent models on a single GPU, achieving up to twice the aggregate throughput of standard configurations.

Current customers include Fireworks AI and Luma AI, which use TensorWave’s infrastructure for large-scale generative AI and production inference workloads. The company has secured more than 2 gigawatts of long-term data center capacity.

TensorWave plans to double its workforce from 160 to between 300 and 400 employees over the next 12 months. The funding positions the company to expand its AMD-exclusive infrastructure as enterprises seek alternatives to Nvidia’s dominant market position.

‘TensorWave’s partnership with AMD and its disciplined execution make it exactly that – and we believe it is positioned to become one of the most important compute providers for AMD-based AI workloads,’ said Ross Laser, Co-Founder and President of Magnetar.

Read more: Data center infrastructure startup TensorWave raises $350M to help break Nvidia’s AI chip monopoly