# Oxide's $445M Series D

- Show: [Oxide and Friends](https://hardwarepodcasts.com/podcast/oxide-and-friends)
- Published: 2026-10-18
- Length: 1h 21m
- Episode: 23
- Page: https://hardwarepodcasts.com/podcast/oxide-and-friends/2026-10-18-oxides-445m-series-d
- Listen: https://share.transistor.fm/s/867a87b6

## Summary

Oxide Computer Company co-founders Steve Tuck and Bryan Cantrill, along with CFO Scott Orn, discuss raising a $445M Series D to fund manufacturing capacity and supply chain commitments for their rack-scale servers. The episode details the strategic inclusion of AMD and Atrides as investors, the company's achievement of profitability, and the specific tax and debt structures used to manage cash flow. They also address community feedback regarding their extensive hiring process and clarify the economic model behind their hardware offerings.

## Chapters

- [0:00](https://hardwarepodcasts.com/podcast/oxide-and-friends/2026-10-18-oxides-445m-series-d#t=0) Introduction: Series D Announcement and Walk and Talk
- [5:11](https://hardwarepodcasts.com/podcast/oxide-and-friends/2026-10-18-oxides-445m-series-d#t=311) Reasons for Raising: Backlog and Manufacturing Scale
- [13:26](https://hardwarepodcasts.com/podcast/oxide-and-friends/2026-10-18-oxides-445m-series-d#t=806) Investor Selection: Atrides, AMD, and Crossover Strategy
- [22:15](https://hardwarepodcasts.com/podcast/oxide-and-friends/2026-10-18-oxides-445m-series-d#t=1335) Profitability, Taxes, and R&D Credits
- [26:24](https://hardwarepodcasts.com/podcast/oxide-and-friends/2026-10-18-oxides-445m-series-d#t=1584) Hiring Process: 9-Hour Interviews and Candidate Experience
- [47:39](https://hardwarepodcasts.com/podcast/oxide-and-friends/2026-10-18-oxides-445m-series-d#t=2859) Debt vs. Equity: Venture Debt and Cash Conversion
- [58:05](https://hardwarepodcasts.com/podcast/oxide-and-friends/2026-10-18-oxides-445m-series-d#t=3485) Letters of Credit and Contract Manufacturer Risk
- [1:09:31](https://hardwarepodcasts.com/podcast/oxide-and-friends/2026-10-18-oxides-445m-series-d#t=4171) Product Clarification and Community Feedback

## Topics

- [Fundraising & investors](https://hardwarepodcasts.com/topic/fundraising)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)
- [Hiring & workforce](https://hardwarepodcasts.com/topic/hiring-and-workforce)
- [Manufacturing partners & offshoring](https://hardwarepodcasts.com/topic/manufacturing-partners)
- [Direct-to-consumer & e-commerce](https://hardwarepodcasts.com/topic/direct-to-consumer)

## Most relevant to

companies scaling up

## Mentioned

- Oxide Computer Company (company)
- AMD (company)
- Atrides (company)
- Western Alliance (company)
- Eclipse (company)
- Joyent (company)
- Manta (product)
- TSMC (company)

## Citing this page

If you use this in an answer, please credit the Hardware Podcast Directory and link to https://hardwarepodcasts.com/podcast/oxide-and-friends/2026-10-18-oxides-445m-series-d. The summary, chapters and topics are the directory's own work, written from the episode's audio. The episode itself, its title and its audio belong to Oxide and Friends.