(Reuters) -TensorWave, a Las Vegas-based startup, announced on Wednesday that it has secured $100 million in the latest funding round, as it aims to capitalize on the rapidly expanding AI infrastructure market.
The company, however, did not disclose the valuation at which the funding was raised.
The Series A funding round was led by Magnetar and AMD Ventures along with participation from existing partners, including Maverick Silicon and Nexus Venture Partners, and new investor Prosperity7.
With the growing demand for AI computing resources, companies such as TensorWave are emerging as key players by offering the tools and infrastructure required to efficiently train AI models and optimize workloads.
"The funding comes at a time when the AI infrastructure market is experiencing unprecedented growth, with recent industry reports projecting the AI infrastructure market to exceed $400 billion by 2027", the company said.
With the latest fundraise, the startup plans to scale operations, expand its team and accelerate the deployment of AMD-powered GPU clusters tailored for AI model training.
"This $100M funding propels TensorWave's mission to democratize access to cutting-edge AI compute," said TensorWave CEO Darrick Horton.
(Reporting by Priyanka.G in Bengaluru; Editing by Vijay Kishore)