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Torus raises $500 million Series C for container-sized AI data centers
Salt Lake City energy-storage startup Torus said it raised a $500 million Series C led by Magnetar to manufacture Foundry, a shipping-container product that pairs batteries with AI computing, Bloomberg reported.
Torus, a Salt Lake City energy-storage startup, said it raised $500 million in Series C funding to launch a shipping-container-sized product that combines batteries with artificial-intelligence computing, Mark Chediak reported for Bloomberg1.
Magnetar led the round, with participation from Iconiq Capital, Origin Ventures and Trinity Capital, Torus said in a statement cited by Bloomberg1. The company said the money will support manufacturing of the new product, called Foundry1.
Techmeme, summarizing the Bloomberg report, said the containers are sized from 1 megawatt to 20 megawatts1. Hydra Host, an AI infrastructure company, is among customers, Torus said1.
Bloomberg labeled the account exclusive1. Independent details on valuation, remaining ownership, production volume and delivery dates were not in the Techmeme item or the portion of Bloomberg's report that was available without a subscription1.
