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DriveNets raises significant capital with AMD participating in the investment process.

Israeli tech firm DriveNets announced a substantial investment of $410 million, with Bessemer Venture Partners and Atreides Management spearheading the deal, bringing their cumulative funding to a staggering $1 billion.

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Israeli tech firm DriveNets announced a substantial investment of $410 million, with Bessemer Venture Partners and Atreides Management spearheading the deal, bringing their cumulative funding to a staggering $1 billion.

AMD and Red Dot Capital have entered the investment process alongside existing investors Pitango and D1 Capital Partners. DriveNets' CEO, Ido Susan, plans to utilize the funds to address the rapidly growing need for massive AI infrastructure solutions.

RelatedEconomic growth in Northern Ireland outpaces rest of the UK post-Brexit.

DriveNets has obtained substantial funding, though the company remains tight-lipped about its valuation following this recent influx of capital.

Venture capitalists have been pouring substantial funds into companies offering AI infrastructure, shielding them from market fluctuations' unpredictability lately.

Read nextBritish inflation rate remains steady at a 13-month low beforehand.

Telecommunications operators and data centers can now deploy networks with ease, leveraging standard hardware instead of expensive proprietary systems. DriveNets' innovative tech also enables swift connections and efficient AI processing.

Established in 2015, DriveNets has secured notable partnerships with prominent companies like Broadcom (AVGO.O) and Japanese technology leader Fujitsu.

The rapid growth of AI systems has elevated the importance of the network infrastructure that supports them, making it a key factor in the economic success of these applications.

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