AMD invests in GPU cloud provider Vultr at $3.5 billion valuation [CNBC]
DigitalOcean Holdings, Inc. (DOCN)
Company Research
Source: CNBC
Competitor DigitalOcean went public in 2021. Vultr, a startup that rents out graphics processing units and other cloud infrastructure to businesses, has raised $333 million in a transaction that values the company at $3.5 billion. AMD 's venture arm and hedge fund LuminArx Capital Management led the round. Founded in 2014 and known as a low-cost virtual server provider, Vultr offers GPUs from AMD and rival Nvidia , which are in high demand due to the boom in generative artificial intelligence. It's the first time the company has taken equity financing, though Bank of America and JPMorgan Chase agreed to extend a $150 million credit facility for the company in 2021. Nvidia , the biggest beneficiary thus far of the AI wave, has invested in specialist cloud providers CoreWeave and Lambda. AMD's central processing units are also available through Vultr, alongside Intel's The fresh infusion of capital will go toward international expansion, Vultr said in a statement . The company
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DOCN
Earnings
- 11/4/24 - Beat
DOCN
Sec Filings
- 12/19/24 - Form 4
- 12/18/24 - Form 144
- 12/6/24 - Form 4
- DOCN's page on the SEC website