DriveNets raises $410M Series D with AMD, Bessemer and Atreides

The round was announced on June 1, 2026, so the July roundup listing is late. Bessemer and Atreides led it, AMD and Red Dot Capital joined as new investors, and Pitango and D1 Capital Partners returned. Total funding reached $1 billion, with a post-money valuation of $8.5 billion. The money goes to commercial inventory, ahead of an expected surge in hardware deployments in 2026 and 2027.

The company has been cash-flow positive since 2025. It works with AMD, Broadcom, Dell Technologies and Supermicro on multi-vendor AI environments. A reference architecture published with AMD covers clusters built on Instinct accelerators. Founded in 2015, it first targeted telecom carriers that wanted to avoid proprietary hardware. AT&T bought roughly 15% from existing shareholders in 2025.

For AI builders, the network is now a cost lever. The company claims its fabric raises tokens per second and lowers cost per token. That claim is the company's own and not independently verified. Open Ethernet fabrics could loosen reliance on single-vendor GPU stacks. Bessemer describes the market as supply-constrained, so a vendor holding inventory may deliver faster than rivals.