Torus Completes $500M Series C, Launches Containerized AI Inference Compute Product

November 12: According to a Torus announcement, the Salt Lake City-based energy storage company has completed a $500 million Series C round led by Magnetar, with participation from ICONIQ, Origin Ventures, Ridgeline Partners and Trinity Capital. Torus also launched Foundry, a modular AI inference compute product that integrates power supply, energy storage, cooling, networking and compute into prefabricated equipment, at 1 to 20 megawatts per site and about 12 to 16 weeks from contract signing to operation. The first batch of customers includes Hydra Host, and the company aims to deploy more than 47,000 GPUs by the end of 2027.