Company press releases or reputable news sources confirming the acquisition of GPUs by Vultr

Vultr Raises $333M in First Outside Funding Led by AMD Ventures and LuminArx, Valued at $3.5B

Dec 18, 2024, 04:00 PM

Cloud computing and AI infrastructure startup Vultr has secured $333 million in its first external funding round, achieving a valuation of $3.5 billion. The growth financing was led by AMD Ventures, the venture arm of semiconductor company Advanced Micro Devices, and hedge fund LuminArx Capital Management. Vultr, based in West Palm Beach, Florida, plans to utilize the funds to expand its AI infrastructure, particularly by acquiring more graphics processing units (GPUs) to meet the growing demand for AI computing. This investment marks a strategic move for AMD to enhance its presence in the AI market, challenging competitors like Nvidia.