TensorWave, a Las Vegas-based startup specializing in the development of artificial intelligence infrastructure, announced on Wednesday, May 14, that it managed to raise $100 million in the latest round of financing.
Currently, the artificial intelligence infrastructure market is showing rapid growth. Investors seek to benefit from this process. The investment received by a Las Vegas-based startup is an example of the mentioned aspiration.
Likely, the highly intensive development and scaling of the artificial intelligence infrastructure market will continue. This assumption has a high level of realism for several reasons. In the context of favorable factors, it is worth mentioning the increase in data volumes because advanced technologies generate huge amounts of information that require powerful computing resources for processing. Also, for the mentioned market, it is a positive circumstance that technology giants such as Nvidia, Microsoft, and Google are actively investing in the development of cloud and server solutions for artificial intelligence. Moreover, in this case, the scaling of cloud services is a positive factor. Companies are increasingly using cloud platforms that provide access to powerful AI tools.
The funding round, during which the Las Vegas startup received investments, was led by Magnetar and AMD Ventures. Existing partners, including Maverick Silicon and Nexus Venture Partners, and new investor Prosperity also participated in the fundraising.
In a report published by TensorWave, it was noted that according to the latest industry reports, the financial volume of the artificial intelligence infrastructure market will exceed $400 billion by 2027.
As we have reported earlier, Relevance AI Raises $24 Million.
