Torus raises $500 million to launch Foundry

Energy-storage startup Torus says it has raised $500 million in a Series C funding round to manufacture Foundry, a shipping container-sized product combining batteries and AI computing. Magnetar led the round, with participation from Iconiq Capital, Origin Ventures, and Trinity Capital. AI infrastructure company Hydra Host is among the customers planning to use the new modular system. Open article →