AI data center startup Torus has closed a $500 million financing round and launched a modular data center integrated with energy storage systems.

On November 11, U.S. energy storage startup Torus announced that it has completed a $500 million Series C financing round led by Magnetar, with participation from institutional investors including Iconiq Capital, Origin Ventures and Trinity Capital. The proceeds of this round of financing will be used to produce Foundry, a new modular AI data center product that integrates battery energy storage systems and AI computing equipment into container-sized modules. Hydra Host, an AI infrastructure company, is one of its customers. (Sina Finance)