Oxide raises $200M Series C

Congratulations to the Oxide team! It's a tough market out there :)! I'm still personally frustrated that I don't get to play with the hardware (too expensive for our internal server needs; not the right fit for our datacenter partners/customers), but I'm excited to see that they're successful and hopefully they'll come around to my use case eventually :). In the meantime, I appreciate that they're building largely in the open - every once in a while I'll glance at their issue tracker for light bedtime reading. Just recently we had some fun internally throwing our controls software at their thermal loop as a usage example - it's often hard to find compelling real-world systems to use as openly sharable examples (of course we have interesting customer problems, but that's all NDA'd), so having companies build real stuff in the open is fantastic. Great company, wish them the best.

Oxide is the only company where I check the careers page hoping that they have a position which I can apply to.

Happy to see their success. Especially so if you've been following their journey through their podcasts (easily the best tech podcast out there if you care about your craft; no filler, all killer).

I just came to know about Oxide the other day, and god damn if it is not a dream workplace! High salary, flat structure, a large open-source presence, and maybe much more! Their blogs are really good too.

I am an undergraduate right now and looking at the people working there, it doesn't seem likely they would hire a fresh grad, I think I have found the yardstick I am going to measure myself by going forward, "Am I skilled enough that I could work at Oxide?". Hope more companies follow suit in putting the people forward!!

I'll say: You made the right call striking while the iron is hot. My employer did one of those "Didn't need to but did it anyway" rounds and it was critical for a successful exit that came years later.

Could someone explains to me what the secret is here? Apart from the fancy marketing, is it the full integration? The hardware? It took me a while to find an actual picture of one of the modules.

If I could use the Oxide stack in a homelab form factor, I would be so happy...

I'm confused what their product is... "The cloud you own"? Isn't that just... a server? Sure, it looks like a very nice server, but is there anything special about it apart from that?

Congratulations to the team. Oxide & Friends, Bryan, Adam & Team are such a valuable resource to our community. Their podcast is amazing, the problems they encounter, and their willingness to share with the rest of us is not taken for granted!

I wonder how Oxide's basic value proposition changes with the very recent growth in rack-scale and multi-rack (datacenter-wide) compute for AI. Surely these other vendors have tech (particularly around network interconnect) that can be repurposed effectively for the more general private cloud workloads Oxide is focusing on.

If I had millions in my bank, instead of buying fancy cars, I would definitely buy an Oxide rack just for the lols

Love Oxide and what they're building, but I'm not sure raising even more VC money is the way to build a generational company. Quite the opposite? With money you don't need, you're trading faster growth for more dependencies on third parties that will seek a ROI eventually?

I guess there's two ways of looking at this, way (1) is leaning heavily into what seems at least seems to be top of cycle in a cyclical business, which is likely to be highly problematic when they hit downturn, or (2) doing an Amazon and getting lucky by having a massive war chest to survive the next down turn.

Has anyone purchased/enquired about an Oxide rack or currently running one ? any info on pricing ?

Congratulations Oxide, it's inspirational to see curiosity, conviction and rigor pay off.

Can they re-raise it in Series Rust?

I am confused. How do you own a cloud you pay for as a service.

How much money do you have to raise to buy a decent mic?

Looking forward to the podcast! Congrats. Had to do a double take, wasn't it around summer last year they closed 100 mil. Wild

Anyone have insight into revenue or valuation? Implied $1B Val but revenue guesstimates I see put them at sub $50M?

Their website is so nice and smooth even on my shitty computer, not like the other announcement pages of major companies that only work on state of the art macbooks.

I speculate this is to help them pass the vendor business risk assessment process at larger customers.

Wow, amazing. That some serious money. Everybody gets a raise hopefully. Congrats everybody.

What to do with so much money?

An AI product is of course the 'no-brainer', I would love to see them partner with Tenstorrent for the CPU/AI part. I think Bryan described this as Door 3 'doing something crazy'.

A product around AMD APU was talked about, but in a recent talk Brain said AMD doesn't seem to care about that product.

OpenTitan is now getting ready for production uses, maybe makes sense to switch to that in the future. Moving Hubris onto that shouldn't be to big of a lift.

A conventional server without DC bus bar maybe? Not talking about homelab server but something in a class where you can't have a whole rack and the bus bar. The main seller would be the fireware and software ontop to get people into the control plane ecosystem. And you could make Linux boot on it too for more market reach potentially. I'm not sure how much such a platform could share with current system.

An SSD or NIC with open fireware would be great, but not sure if you can develop that only for your own product or if you would want to sell it separatly to make sense. But that would be big departure from the current All-in-One product.

Amazing what you can do when all you try to do is make podcast. Maybe now they have money to bring back 'On the Metal'. I enjoyed the more structured interview style podcast about history of computing quite a bit. That said the more discussion oriented 'Oxide and Friends' is also nice.

Amazing, and all employees literally have equal equity, just like they did for salaries! Bravo.

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I'm confused and saddened on why Oxide has to keep raising money (in substitute for growth) and keep entrenching their business with VCs and letting them control business and ownership.

> "So if we didn’t need to raise, why seek the capital? Well, we weren’t seeking it, really. But our investors, seeing the business take off, were eager to support it."

From this of course the VCs will back and support Oxide (they are mentally thinking that Oxide will move into supplying hardware for AI datacenters) eventually want their money back at many many multiples and the pressure is there to achieve this.

Can you even invest in Oxide?

I just wish Oxide wouldn't have to keep getting owned by VCs which would inevitably lead to enshittification to pay back the VCs.

If Oxide followed the model of Valve (100% founder and employee ownership, profitable, vast unlikelihood of enshittification or pressure to get acquired or IPO) then it would be a different situation.

Another $200M for a company whose product most developers will never touch. VCs continue to confuse "hardware that sounds cool" with "business that makes money". This ends one of two ways: acqui-hire or Chapter 11.