TensorWave

Based in Las Vegas, TensorWave is a provider of cloud platform for AI applications that runs on chips designed by an Nvidia rival AMD. The company runs data centers that deploy thousands of GPUs that customers can access via the cloud to run AI workloads. TensorWave use AMDs MI300X accelerators specifically designed to deliver leadership performance for Generative AI workloads and HPC applications. The company began onboarding customers late this spring in preview. But its already generating $3 million in annual recurring revenue. According to co-founder Horotn, the company expects that this figure will reach $25 million by the end of the year an 8x leap. TensorWave is planning to increase the capacity to 20,000 MI300Xs to achieve this goal. On October 8, 2024, TensorWave announced the closing of a $43 million SAFE funding round. This round, led by Nexus VP, marks the largest SAFE funding for any Nevada-based startup to date. Other investors in this round include Maverick Capital, Translink Capital, Javelin Venture Partners, StartupNV, and AMD Ventures.