Torus secures $500 million to expand power and AI infrastructure
Magnetar led the growth financing as Torus launched its Foundry modular AI compute systems.
Torus announced $500 million in growth capital on November 11, 2026, led by Magnetar. ICONIQ, Origin Ventures, Ridgeline Partners and Trinity Capital also participated. The company will use the capital to expand its GigaOne manufacturing facility and deploy Reserve energy storage and Foundry AI infrastructure across the United States.
The Salt Lake City manufacturer launched Foundry alongside the financing. Its prefabricated systems combine power, storage, cooling, networking and compute at existing commercial and industrial sites. Foundry is paired with Torus Reserve to manage power demand; its first customers include Hydra Host.
Use of funds
Expand GigaOne manufacturing
Deploy Torus Reserve and Foundry across the United States