Torus Raises $500M Growth Capital to Expand Modular AI Infrastructure

Torus announced $500 million in growth capital on November 11, 2026, alongside the launch of Foundry, prefabricated modular infrastructure for AI inference. Magnetar led the financing, with proceeds earmarked for expanding Torus’s Salt Lake City manufacturing operation and deploying its power and compute systems across the United States.

ICONIQ, Origin Ventures, Ridgeline Partners and Trinity Capital also participated. Foundry integrates power, storage, cooling, networking and compute in one prefabricated unit. Torus’s pitch is that prefabrication, combined with existing grid connections, can compress a deployment schedule that can stretch to years for a conventional hyperscale campus.

The design starts with unused electrical capacity between substations and existing commercial or industrial buildings. Each system sits behind the meter, meaning on the customer’s side of the utility connection, and uses available transformer headroom rather than requiring new grid infrastructure. That makes usable capacity on the existing connection a central design constraint for each deployment.

Torus founder and CEO Nate Walkingshaw summarized the approach: “Most providers are bringing power to the chips. Foundry brings the chips to power.”

Deployment Speed and Power Management

Torus reports that Foundry can supply 1–20 megawatts of inference capacity per site and move from contract to running AI workloads in 12–16 weeks. The smallest system is roughly the size of a small cargo van, and no building construction is required. Site preparation takes about one week, while installation and commissioning take one to two days.

Every Foundry is paired with Torus Reserve, the company’s energy-storage and management product. Battery and inertial flywheel storage, governed by predefined dispatch controls, shape demand, cover peaks, support ramping and provide backup power during grid outages. Torus says this allows more compute to operate on the same interconnection. The company also provides ongoing operations and maintenance, with Torus Protect adding integrated networking and security.

Deployment Options and Initial Customers

Foundry is launching with Hydra Host and another AI cloud provider, which Torus did not name. Its three deployment models separate how much of the stack a customer takes. Strategic provides a powered enclosure without GPUs; Partner provides a turnkey bare-metal unit with GPUs; and Direct supplies sovereign inference capacity through single-tenant hardware allocated exclusively to an enterprise’s workloads.

Torus reports that thousands of GPUs are already deployed in Foundry units, with a target of more than 47,000 by the end of 2027. That target gives the manufacturing expansion a concrete deployment measure and connects the new financing to a substantial increase from the installed base described at launch.

Utah Factory Anchors Expansion

Foundry is designed, engineered and manufactured at GigaOne, Torus’s 545,000-square-foot Salt Lake City facility, where nearly 400 employees work and key components are built in-house. The Foundry production line is already online. Torus says it will be capable of producing 500 megawatts of IT load, or computing-equipment power capacity, with plans to expand to 1 gigawatt.

Resource use is also part of the site proposition. Torus says Foundry’s closed-loop cooling system is waterless and uses 95 percent less water than evaporative coolers. Each system also donates GPU time to medical research through Folding@home.

The financing ties Torus’s manufacturing and deployment plans together. Its expansion depends on finding sites with usable transformer headroom and converting GigaOne’s production capacity into operating systems at a scale that supports the 2027 GPU target. That makes execution at the factory and access to existing electrical connections the central constraints on Foundry’s buildout.