Cloud provider Vultr has secured a $333 million investment round led by AMD Ventures and LuminArx Capital Management, valuing the company at $3.5 billion. The fresh funding will be used to drive international expansion.
Founded in 2014, Vultr offers low-cost virtual server solutions with GPUs from AMD and Nvidia, catering to the growing demand for generative artificial intelligence (AI). Unlike top cloud providers, Vultr does not have its own AI chip but partners with AMD and Nvidia.
“We’ll never seek to build GPUs and compete with that layer,” said Vultr CEO J.J. Kardwell. Instead, the company focuses on providing affordable prices based on performance for the inference stage of working with AI models, critical for organizations deploying AI at scale.
Vultr’s customers include Microsoft’s Activision Blizzard, and the company currently has 32 data center locations outside North America. The investment follows competitor DigitalOcean’s public listing in 2021, which valued the company also at $3.5 billion.
Source: https://www.cnbc.com/2024/12/18/amd-invests-in-gpu-cloud-provider-vultr-at-3point5-billion-valuation.html