Vultr, a GPU cloud provider, receives a $3.5 billion investment from AMD.

• A $333 million round in cloud provider Vultr was led by AMD Ventures and LuminArx Capital Management.
• The company is looking to expand internationally.
• Competitor DigitalOcean went public in 2021.

The venture arm and hedge fund LuminArx Capital Management led a $333 million investment in Vultr, a startup that provides cloud infrastructure and graphics processing units to businesses, valuing the company at $3.5 billion.

Vultr, founded in 2014 and recognized as a low-cost virtual server provider, provides GPUs from both AMD and its competitor. These GPUs are highly sought after due to the surge in generative artificial intelligence. This is the first time Vultr has secured equity financing, with Bank of America and JPMorgan Chase extending a $150 million credit facility to the company in 2021.

CoreWeave and Lambda have been invested in by the biggest beneficiary of the AI wave, while Vultr offers AMD's central processing units alongside .

Vultr announced that it will use the new capital injection for international expansion, as stated in a company statement. Currently, Vultr has 32 data centers, with the majority located outside of North America. The Wall Street Journal reported earlier that Activision Blizzard is among Vultr's customers.

In 2021, a rival to Vulr went public and is now valued at $3.5 billion.

Eric Sheridan of Goldman Sachs reports that the cloud computing environment is in good condition.