DriveNets raises $410M for multi-vendor AI networking

DriveNets raised $410 million in Series D financing to expand its Ethernet-based AI fabric business, bringing total capital raised to $1 billion. The company says it has more than $1 billion in secured business and will use the capital to build inventory for large-scale AI infrastructure customers. Its pitch is that GPU clusters are increasingly limited not only by accelerator supply but by network bottlenecks, reliability, and multi-vendor orchestration. The round was led by Bessemer Venture Partners and Atreides Management, with AMD and Red Dot Capital joining existing backers. This is a funding story, but it also shows a broader infrastructure shift: as labs and enterprises mix Nvidia, AMD, and other accelerators, the network layer becomes a direct lever on token economics and GPU utilization.

Key details: June 1, 2026, DriveNets, $410M Series D, $1B total capital raised, Bessemer Venture Partners, Atreides Management, AMD, Ethernet AI fabric.

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