Torus raises $500 million to launch modular AI data center product
Utah-based Torus is expanding from commercial energy storage into AI infrastructure with a new container-sized system that combines batteries and computing. The funding is set to back manufacturing of the product, called Foundry, as the company targets businesses seeking to manage power use alongside rising AI demand.
Highlights
- Torus raised $500 million in a Series C led by Magnetar to fund production of its modular AI data center product Foundry.
- Foundry integrates battery storage with AI computing in a shipping container-sized system, expanding Torus’s business from energy management into AI infrastructure.
- Hydra Host, an AI infrastructure company building AI workload capacity, is identified as an early customer for the new Foundry product.
Funding round backs Foundry production
As reported by Bloomberg, Torus said in a statement that it has raised $500 million in a Series C round led by Magnetar, with participation from Iconiq Capital, Origin Ventures and Trinity Capital.The company says the new capital will support manufacturing of Foundry, a shipping container-sized product designed to combine battery storage with artificial-intelligence computing capacity.
Energy storage business widens into AI infrastructure
Torus has been selling modular battery systems that help businesses and factories manage energy use and reduce power bills. The new product extends that model into AI-related infrastructure, linking electricity management with computing needs in a single system.Hydra Host, an AI infrastructure company, is among the customers identified by Torus, signaling early demand from operators building capacity for AI workloads.
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