Oxide Computer Company has raised $445 million in a Series D round led by Eclipse, the company announced on October 9. Existing investors including the US Innovative Technology Fund, Riot Ventures and Jane Street participated, and Atreides Management and AMD Ventures joined as new investors. No valuation was disclosed.
The unusual feature of the raise is that Oxide says it reached profitability earlier this year. The new capital is working capital, not survival funding: in hardware, cash must be committed to components and manufacturing well before finished systems reach customers, and the company says demand still exceeds its production capacity.
Chief executive Steve Tuck said the pace of on-premises cloud projects has required the company to scale manufacturing capacity by 20 times over the past 12 months, and demand still exceeds supply. The Series D will fund component purchases, further manufacturing expansion and delivery to new and existing customers.
Oxide sells the Oxide Cloud Computer, a rack-scale system that combines purpose-built hardware with open-source software to give enterprises a hyperscale-style cloud they own and operate in their own data centers. Known customers include CoreSite, Lawrence Livermore National Laboratory and Switch, and the company has worked with AMD across its hardware and software stack, which makes AMD Ventures a strategic as well as financial investor.
The round, following $200 million raised in February 2026 and a $100 million Series B before that, is a useful counterpoint in a week when public chip stocks sold off. Private buyers are paying for CPU-based, owned infrastructure aimed at agentic workloads, the same shift Nvidia and AMD described at the Open Compute Project summit.