AMD Ventures
AMD Ventures is the corporate venture arm of Advanced Micro Devices, led by Sagi Paz. It invests from early to growth stage in AI models, AI cloud, silicon and interconnects.
Industry: Corporate venture capital
About AMD Ventures
AMD Ventures is the corporate venture arm of Advanced Micro Devices, the semiconductor company. It invests in companies across the artificial intelligence stack, with stated focus areas of AI models, platforms, vertical AI, AI cloud, silicon technologies and interconnects. Global Venturing describes it as a systematic, scaled venture function rather than passive balance-sheet investing. It is stage-agnostic, according to its head, with cheque sizes from 1 million US dollars to tens of millions depending on the company and how much it is raising.
Sagi Paz leads AMD Ventures. He joined AMD in 2022 through its acquisition of Xilinx, where he had run the corporate venture unit, and built AMD's venture function from the ground up because AMD had done little venture investing before. Global Venturing reported in 2025 that the unit had made more than 30 investments since 2022, including 15 in 2024 with more than 300 million dollars deployed. Its 2026 profile says AMD Ventures has more than 50 active portfolio companies and has invested more than 1 billion dollars in AI.
Portfolio companies named by Global Venturing include World Labs, Runway, Cohere, Hugging Face, xAI, Liquid AI, Upstage, TensorWave, Vultr, Ayar Labs, Celestial AI and Eliyan. Marvell acquired Celestial AI in February 2026, which Global Venturing called a strong financial exit. In an interview published in July 2026, Paz said AMD Ventures takes observer seats rather than board seats at roughly half its portfolio companies and that physical AI, including robotics, industrial automation and embedded systems, is its next major focus beyond the data centre.
In June 2026 AMD Ventures and Magnetar Capital co-led TensorWave's 350 million dollar Series B at a 1.55 billion dollar valuation, according to Crypto Briefing. It also joined Odyssey's 310 million dollar Series B, led by Natural Capital at a 1.45 billion dollar valuation, alongside Amazon, GV, EQT and In-Q-Tel. AMD does not publish a fund size for the unit in the sources read.
Leadership
- Sagi Paz, Head of AMD Ventures