AI compute infrastructure company Torus raises $500 million in funding

Torus, a U.S. energy and compute infrastructure company, raised $500 million in growth capital led by Magnetar, with ICONIQ, Origin Ventures, Ridgeline Partners and Trinity Capital participating. Alongside the funding, Torus launched Foundry, a modular AI inference infrastructure product that bundles power, storage, cooling, networking and compute into prefabricated systems offering 1 to 20 megawatts of capacity per site, with a 12- to 16-week timeline from contract to running AI workloads. Initial customers include Hydra Host and another AI cloud provider, and Torus said Foundry has already deployed thousands of GPUs, with plans to exceed 47,000 GPUs by the end of 2027. The company will use the capital to expand its GigaOne production facility and deploy storage and compute products across the U.S. The deal signals continued investor appetite for physical AI infrastructure beyond chips themselves, and the ramp toward the 2027 GPU target will be the key metric to watch.