TensorWave Secures $43M SAFE Funding
Nevada-based TensorWave has secured $43 million in a SAFE funding round – or a “Simple Agreement for Future Equity”. Startups use SAFEs to receive funding without determining a valuation or issuing equity immediately.
The cutting-edge cloud platform and AI startup has been fighting to break NVIDIA’s control over the AI industry by building alternative solutions that rival both performance and price. The SAFE funding will enable TensorWave to increase its data center capacity by deploying thousands of AMD Instinct MI300X GPUs. The company will also expand its team and develop its new inference platform.
TensorWave aims to meet the increasing demands in the global AI market, projected to soar from $196.63 billion in 2023 to $1.81 trillion by 2030. With their cloud service, TensorWave provides essential infrastructure for future AI applications.
TensorWave CEO Darrick Horton noted the importance of this funding for scaling operations, stating, “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.”
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