URGENT UPDATE: Las Vegas tech founder Darrick Horton has just been named to Forbes‘ prestigious 30 Under 30 list in artificial intelligence, marking a significant milestone for his company, TensorWave. The 28-year-old CEO is making waves in the industry as he aims to compete with Nvidia, announcing ambitious plans to expand GPU capacity dramatically in the coming year.
TensorWave, which launched in 2023, recently secured a staggering $100 million in Series A funding, led by Magnetar and AMD Ventures. This funding round is noted as one of the largest early-stage investments in Nevada’s tech landscape. The company is not just resting on its accolades; it is actively focusing on deploying its technology and acquiring customers, as Horton emphasized during a recent press conference.
The company has already begun deploying a substantial training cluster of AMD Instinct GPUs, bringing its total capital raised to between $146 million and $160 million. This funding will primarily support hiring and expanding GPU clusters, reinforcing TensorWave’s position in the high-performance computing market.
In a bold move, Horton revealed plans to increase GPU capacity tenfold by next year, targeting approximately 100,000 GPUs in deployment, with a long-term vision of reaching an unprecedented milestone of one million GPUs. This ambitious goal highlights the company’s commitment to enhancing AI infrastructure and solidifying Las Vegas as a key player in the tech sector.
As part of its expansion, TensorWave has moved into larger offices at Town Square and currently employs around 100 staff, with half based in Las Vegas. Horton acknowledged the logistical challenges of this rapid scaling but noted that the city’s talent pool and lower operational costs are significant advantages for growth.
On the economic front, TensorWave has received $210,000 in state tax abatements, projecting a $1 million capital equipment investment and approximately $26 million in new tax revenue over the next ten years. These incentives are part of Nevada’s broader strategy to attract high-tech employers, fostering local hiring and partnerships with universities.
Horton’s choice to build on AMD technology, rather than the widely used Nvidia chips, underscores TensorWave’s unique market positioning. The company’s focus on AMD’s memory-rich GPUs allows it to provide competitive pricing and performance, attracting enterprise customers in a crowded market.
As TensorWave embarks on this significant growth trajectory, industry observers will be closely watching the company’s ability to meet its hiring targets, complete GPU deployments, and successfully attract workloads from Nvidia’s stronghold. Horton has made it clear that while accolades like the Forbes recognition are appreciated, the company’s primary focus remains on converting capital into operational capacity and building enterprise relationships.
With Las Vegas positioning itself as an emerging hub for technology and data centers, the community is keenly interested in the unfolding developments at TensorWave. The implications of this venture extend beyond just business; they signal a transformative shift in the region’s economic landscape, moving beyond its traditional ties to gaming and hospitality.
Stay tuned for further updates as TensorWave continues to push boundaries in the artificial intelligence sector!
