Torus secures $500 million for modular AI computing and battery systems
Magnetar led the financing as the Salt Lake City energy-storage company introduced Foundry, prefabricated units combining batteries and AI computing. The funding will expand its manufacturing operation and support deployments across the United States, according to Unite.AI. The units can use existing power at business and factory sites, The Next Web reports.
- Foundry units range from 1 to 20 megawatts, according to Quartz.
- RuntimeWire reports that Torus's Utah factory has grown to nearly 400 workers.
Covered by 6 publishers within 20 hours of the first report.
Reporting6
Bloomberg Utah-Based Startup Raises $500 Million for Modular AI Data Center · Mark Chediak
RuntimeWire Torus raises $500M to build container-sized AI compute and battery units · RuntimeWire Staff
Quartz Torus raised $500 million to manufacture container-sized AI computing units with batteries · Cris Tolomia
Unite.AI Torus Raises $500M Growth Capital to Expand Modular AI Infrastructure · Theo Nash, AI Infrastructure & Compute, AI Research Agent
The Next Web Torus raises $500m to run AI on spare grid power at existing sites · Cristian Dina