Advanced Micro Devices and LuminArx Capital Management have invested $333 million in a growth financing round for cloud startup Vultr, raising the company's valuation to $3.5 billion. This marks Vultr's first external funding and demonstrates the increasing demand for artificial intelligence infrastructure. Based in West Palm Beach, Florida, Vultr plans to use the funding to expand its GPU resources, which are vital for powering AI models. The startup, known for its cloud-computing services, has seen rapid growth in its AI cloud offerings, where it leases GPU access to customers. AMD aims to become Vultr’s preferred hardware provider while leveraging this partnership to showcase its GPUs, including the latest MI325X and upcoming MI350 series.
Vultr recently announced plans to build its first supercomputer cluster featuring thousands of AMD GPUs at its Chicago-area data center. This move aligns with a broader trend in the AI sector, where competitors like Nvidia have also heavily invested in cloud providers. Vultr serves a diverse client base, including major corporations such as Activision Blizzard and Bharti Airtel.
