Oxide Computer Company announced on October 9 that it has raised a $445 million Series D led by Eclipse, first reported by Axios. Existing investors US Innovative Technology Fund, Riot Ventures and Jane Street participated, with new investors Atreides Management and AMD Ventures joining — and the company disclosed it had reached profitability earlier in 2026, an uncommon milestone for a fast-growing hardware startup.

The Emeryville, California company builds integrated rack-scale computers that combine compute, storage, networking and control software into a single system customers own and operate. Co-founder and CEO Steve Tuck said manufacturing capacity has scaled 20x over the past 12 months, yet demand still exceeds supply — and an SEC Form D filing records $444,999,052 sold in the equity offering.

The raise follows a $100 million Series B in July 2025 and a $200 million Series C in February 2026. The company says the capital will go toward securing components and expanding manufacturing capacity to work through its order backlog: in the hardware business, cash has to be deployed for parts and assembly well before customers pay for delivered systems.

AMD Ventures' participation deepens an existing technical relationship spanning hardware and software development. Growing demand for AI infrastructure — particularly workloads involving autonomous AI agents — is pushing enterprise compute, memory and networking requirements higher, and Oxide's pitch is that owning the stack outright beats renting from hyperscalers.

Sources