Torus raises $500m to run AI on spare grid power at existing sites

Salt Lake City-based energy storage maker Torus has raised $500 million in a Series C round led by Magnetar to launch Foundry, a prefabricated system that brings AI computing directly to existing business and factory sites using spare grid power. The units integrate power, storage, cooling, networking, and computing behind the meter, allowing sites to deploy AI inference workloads in 12 to 16 weeks without needing new grid connections. Open article →