Torus, which raised $500 million, launches AI inference facilities utilizing spare power

Torus, a U.S. energy storage company, raised $500 million and launched a modular AI inference foundry that draws on spare power capacity at existing facilities. The round was led by Magnetar with participation from ICONIQ, Origin Ventures, Ridgeline Partners and Trinity Capital. Torus will use the proceeds to expand its GigaOne manufacturing site in Salt Lake City and deploy energy storage and compute equipment across the U.S. The foundry bundles power supply, storage, cooling, networking and compute hardware into prefabricated units, positioning Torus to convert underused grid and generation capacity into AI inference compute. The deal signals growing investor appetite for pairing energy infrastructure with AI workloads as power availability becomes a binding constraint on data center buildout. What to watch next is the per-site inference capacity Torus delivers and how quickly it converts its pipeline of spare-power sites into operating foundries.