Cloud AI Startup Vultr Raises $333 Million At $3.5 Billion Valuation

AMD’s investment is part of how the chip giant plans to make a dent in the artificial intelligence chip market dominated by Nvidia

Chip giant Advanced Micro Devices and hedge fund LuminArx Capital Management raised $333 million for a growth financing round for cloud startup Vultr, a sign of the hot demand for artificial intelligence infrastructure.

West Palm Beach, Fla.-based Vultr said it is now valued at $3.5 billion and plans to use the financing to acquire more graphics processi…