Investor Relations Analyst

TensorWave, a cloud-computing startup using exclusively AMD technology instead of Nvidia products, has raised $350 million in a Series B round led by AMD and hedge fund Magnetar Capital, valuing the company at $1.55 billion. Founded in 2023, TensorWave operates data centres using AMD chips and positions itself as an alternative to Nvidia, which dominates the artificial intelligence infrastructure market. The new funding nearly quadrupled its valuation from approximately $400 million a year ago. Chief executive Darrick Horton said the company was created to "restore competition to the market", adding that he dislikes buying from monopolies. TensorWave will use the capital to expand its infrastructure footprint and purchase additional equipment.

A hedge fund manager Magnetar is set to launch a fund with AI bots instead of analysts, sources say. Technology aims to replicate the depth of research and analysis usually provided by large teams of professionals. Final decision on any operation will be made by humans By Hema Parmar June 9, 2026 | 05:04 PM Bloomberg - Magnetar Capital, a hedge fund manager with $18 billion under management, will forgo human analysts in its newest product and instead employ hundreds of artificial intelligence bots to research stocks. The firm's AI technology seeks to replicate the depth of research and analysis typically provided by large teams of professionals, according to people familiar with the matter who spoke to Bloomberg News and asked not to be identified because the information is confidential. The bots will scan the investment universe for opportunities, analyze stocks, make recommendations, and project trends, the sources said. The final decision on any operation will rest with humans. The vehicle, whose launch is expected by the end of this year, is the latest example of how the hedge fund industry is rushing to leverage AI technology to expand - or replace - human talent. Traditionally, new funds launch with teams of analysts dedicated to fundamental research. At Magnetar, by contrast, professionals will focus mainly on the fund's AI infrastructure. A spokesman for Magnetar declined to comment. The initiative follows a similar move earlier this year by Rahul Kishore, a former portfolio manager at Coatue Management, who launched a fund run by three people and an AI bot named Eve. Still, it remains to be seen whether AI can achieve one of finance's most difficult goals: beating the market. In recent competitions involving eight major frontier AI systems, most posted losses. The new Magnetar fund is a creation of Trevor Mottl, the firm's head of AI Quant, who is responsible for building the technological infrastructure. The fund will take more long positions than short ones and focus on buy-and-hold asset strategies, according to the sources. A smaller portion of the portfolio will seek to identify market signals milliseconds ahead of competitors. Mottl's AI technology will allow the fund to significantly expand a type of analysis known as signal processing, which separates relevant information from noise to identify potential pricing patterns. The AI infrastructure and technology developed by Mottl is complex and requires high capital investment, the sources said. He operates several Nvidia servers - high-performance computers costing millions of dollars - running continuous workloads. He also pioneered a field of orchestration, a system that acts as a conductor, coordinating different AI agents that execute specific tasks at different times. Based in Menlo Park, California, a tech hub in the US, Mottl spent seven years at Fusion Fund and was previously an AI portfolio manager at Walleye Capital and Lazard Asset Management. Before that, he ran the equity long-short risk desk at Balyasny Asset Management and was a portfolio manager at Man Group. While this is Magnetar's first AI-driven investment vehicle, the firm launched its first venture capital fund focused on generative AI companies in 2024. Magnetar was founded in 2005 by Alec Litowitz and Ross Laser. The firm primarily invests in alternative credit and also runs quantitative operations that engage in stock bets, merger arbitrage, and statistical arbitrage. See more at bloomberg.com (C) 2026 Bloomberg L.P.

Turion Space has raised more than $75 million in a Series B round led by Washington Harbour Partners, bringing total funding to support its space infrastructure platform. The company builds spacecraft, sensors and software for space domain awareness and orbital operations. Founded in 2021, Turion has launched two operational missions delivering over 40,000 images to date. The Irvine-based startup has secured 28 US government contracts with NASA, the Space Force and the National Reconnaissance Office. The funding will increase spacecraft production capacity from eight to 40 vehicles annually and expand its Starfire operating system for constellation command and control. Turion plans missions in low Earth orbit and geostationary orbit, focusing on reconnaissance and surveillance for US and allied customers. The company employs approximately 200 people.