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Torus raises $500 million Series C to build container-sized AI data centers

Salt Lake City-based energy storage startup Torus has raised $500 million in a Series C round led by Magnetar to develop containerized AI data centers that integrate batteries with computing hardware.

A modular Torus containerized energy and data unit installed outdoors in front of an industrial facility.
Image: @Polymarket

Utah-based energy storage startup Torus has secured $500 million in a Series C funding round led by Magnetar, according to a report by Bloomberg's Mark Chediak. The startup plans to use the capital to launch shipping container-sized AI data centers.[2][3][4][5]

The units, developed under the product name Foundry, combine battery storage with AI computing infrastructure in capacities ranging from 1 megawatt to 20 megawatts, according to AGTP Insights and Bloomberg reporting. Polymarket noted the modular data center containers can be deployed in as little as four months. Hydra Host is among the early customers for the product.[1][2][4][5]

Key facts

  • Torus raised $500 million in a Series C funding round led by Magnetar.
  • Torus is based in Salt Lake City, Utah.
  • The funding supports Foundry, a shipping container-sized product that pairs battery storage with AI computing.
  • The containerized data centers are designed for power capacities ranging from 1MW to 20MW.
  • The units can be installed in four months, according to Polymarket.
  • Hydra Host is among the customers for Foundry.

Sources · 5 sources

  1. AG

    AGTP@AGTPinsightsPost on X ·

    BREAKING: Torus raises $500 million in a Series C led by Magnetar to build Foundry, a shipping container-sized product combining batteries with AI computing. Hydra Host is among its customers. https://t.co/GenMG2v1uo

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  2. TE

    Techmeme@TechmemePost on X ·

    Salt Lake City-based energy storage startup Torus raised a $500M Series C led by Magnetar to build shipping container-sized AI data centers at 1MW to 20MW sizes (@markchediak / Bloomberg) (Visit Techmeme dot com for the link and full context!)

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  3. BL

    Bloomberg@businessPost on X ·

    Torus, an energy-storage startup, raises $500 million in funding to help launch a new shipping container-sized product https://t.co/3BcdQqQwfV

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  4. PO

    Polymarket@PolymarketPost on X ·

    JUST IN: Utah startup Torus raises $500 million to develop shipping container-sized AI data centers that can be installed in just 4 months. https://t.co/vFKPxEeOQN

    Open source
  5. TE

    TechmemeArticle ·

    Salt Lake City-based energy storage startup Torus raised a $500M Series C led by Magnetar to build shipping container-sized AI data centers at 1MW to 20MW sizes (Mark Chediak/Bloomberg) Mark Chediak / Bloomberg : Salt Lake City-based energy storage startup Torus raised a $500M Series C led by Magnetar to build shipping container-sized AI data centers at 1MW to 20MW sizes — Torus, an energy-storage startup, said it raised $500 million in funding to help launch a new shipping container-sized product …

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