A Startup Betting AMD's Chips Can Beat NVIDIA in AI Work

TensorWave raised $350 million and became a "unicorn"—a private company worth $1 billion or more—on a simple idea: AMD's chips hold more working memory than NVIDIA's, which matters for certain AI jobs. The company targets AI tasks where memory space, not raw speed, is the bottleneck. Magnetar Capital and AMD Ventures led the funding round.