01:13 PM EST, 12/18/2024 (MT Newswires) -- Advanced Micro Devices' ( AMD ) venture arm and LuminArx Capital Management co-led a funding round in Vultr, valuing the cloud infrastructure provider at $3.5 billion, Vultr said Wednesday.

The startup raised $333 million via the funding round, CNBC and other media outlets said.

Vultr, which offers Advanced Micro Devices ( AMD ) and Nvidia (NVDA) GPUs for artificial intelligence applications, said it raised equity financing for the first time. The startup said it will use the financing to continue a global expansion in cloud computing and AI infrastructure.

Advanced Micro Devices ( AMD ) and Vultr did not immediately respond to MT Newswires' requests for comment.

Advanced Micro Devices ( AMD ) shares were up 1.9% in recent trading.

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