Oxide Computer Company

Enterprise Infrastructure · Cloud Computing · Hardware

Funding

Oxide Computer raises $445M Series D at $6B valuation

Enterprises are buying back control of their own servers as cloud rental costs and compute shortages squeeze AI-era budgets.

• Oxide Computer raised $445 million in a Series D led by Eclipse, valuing the on-premises cloud computing company at $6 billion.
• Oxide builds the Cloud Computer, a rack-scale system pairing purpose-built hardware with open-source software to bring hyperscale cloud architecture into data centers customers own themselves.
• New investors Atreides Management and AMD Ventures joined existing backers US Innovative Technology Fund, Riot Ventures, and Jane Street in the round.
• Oxide scaled manufacturing capacity 20x over the past 12 months, yet customer demand still exceeds its production capacity.
• The company reached profitability earlier in 2026, generating taxable income from ordinary hardware sales rather than a one-time event.
• A SEC Form D filing shows $444,999,052 sold in the offering, with a first sale date of July 20, 2026.
• The round signals a broader shift in enterprise computing: as hyperscalers strain under compute shortages, large customers are paying upfront for owned hardware instead of renting capacity, a bet Oxide's new profitability helps validate.