Sources
DriveNets Closes $410M Series D at $8.5B Valuation — AMD Invests in AI Ethernet Fabric
DriveNets raised $410M led by Bessemer and Atreides, with AMD joining as a new strategic investor, bringing total capital to $1B. The company's AI fabric maximizes GPU utilization by replacing bandwidth-limited copper interconnects with optimized Ethernet, delivering higher tokens-per-second and lower cost-per-token. DriveNets has been cash-flow positive since 2025 with $1B+ in secured business. The AI infrastructure investment wave is now flowing to the networking layer, not just compute.
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