Tensorx Reaches $5 Million And Appoints Tim Grant As CEO As Demand For Sovereign AI Accelerates

(MENAFN- AETOSWire) (BUSINESS WIRE ) -- TensorX, the Irish sovereign AI inference company, has reached $5 million in revenue as demand for private AI infrastructure continues to grow across Europe and beyond. Tim Grant, who joined the company as Executive Chairman in May, has been appointed Chief Executive Officer to lead as its growth accelerates.

TensorX is a neocloud that delivers inference on open-source AI models using dedicated NVIDIA GPUs with zero data retention, so customer data is not stored, reused or sent outside Europe. Since it began serving customers, the company has raised $10 million in seed funding led by Darius Cubed Ventures.

Over seven months, TensorX's paying customer base grew to over 5,000, ranging from businesses paying a few euros a month to organisations spending thousands of euros depending on their inference needs. The company has dedicated customers paying for reserved capacity on its platform, including APEX:E3, which is building AI applications for enterprises. September marking the company's first month in which combined shared and dedicated token usage exceeded 1 trillion tokens.

“Progressive businesses are building real AI powered applications right now and they want access to the most performant open source AI models as they evolve, but they also need control over where their data is processed and the infrastructure that runs it,” said Tim Grant, Chief Executive Officer of TensorX.

“We are seeing that demand translate into real usage and commercial growth. Our focus now is on building out GPU capacity, the team and the infrastructure to support that growth while maintaining the level of control our customers require. We also have plans to enter into other jurisdictions to deliver truly sovereign AI as per client needs in multiple locations around the world.”

Between February and September 2026, monthly token volume on TensorX's shared inference platform grew from 5.63 billion to 1.1 trillion, a 171-fold increase in seven months, compounding at an average of 108% month on month. Growth was recorded in every month of that period, with September alone adding 451 billion tokens, which was more than the platform processed in its first six months combined.

The growth has been driven by customer acquisition rather than a single workload. Active customer domains increased by more than 1,000 over the same period, while monthly API requests rose from 264,917 to 34.5 million.

“Tim has spent his career building and scaling infrastructure in regulated markets, and he has been working alongside us since May,” said Shane Morton, Founder of TensorX.

“As TensorX enters its next phase of growth, his experience will be invaluable as we scale the business and infrastructure around the demand we are seeing.”

One of TensorX's dedicated customers, APEX:E3, is using the platform to build AI applications for enterprises.

“TensorX turbo charged the output of our development team and enabled us to deploy our own A3 coding assistant. TensorX is simply the only platform we trust with our most sensitive data,” said Usman Khan, CEO, APEX:E3.

Across Europe, it is clear that businesses in regulated sectors including financial services, healthcare and defence are looking to adopt AI while retaining greater control over where their data is processed and how their infrastructure is managed. Accenture found that 62% of European organisations are seeking sovereign AI solutions, rising to 76% in banking, while Gartner expects European spending on sovereign cloud infrastructure to more than triple between 2025 and 2027.

TensorX currently owns its own fleet of 96 NVIDIA B300 GPUs in production in Ireland, with additional 96 GPUs available in Finland. The company is currently finalising an order for a significant increase in its GPU fleet. TensorX has around 20 employees and plans to grow the team in the coming months, scaling to meet client demand.

About TensorX

TensorX is an Irish AI infrastructure company providing private, sovereign inference on dedicated NVIDIA GPUs. With zero data retention and infrastructure in Ireland and Finland, TensorX enables organisations to deploy advanced AI with control over where their workloads are processed and how their data is handled. The company supports open-source models and is backed by Darius Cubed Ventures.

About Tim Grant

Tim Grant is Chief Executive Officer of TensorX and Chairman of APEX:E3, a financial technology company providing multi-asset data analytics and AI-powered tools for financial markets, and TradeLocker, a trading platform connecting traders, brokers and proprietary trading firms. He began his career at UBS, where he became a Managing Director in New York, and went on to lead R3's research lab, run SIX Digital Exchange in Zurich, head Galaxy Digital in Europe and lead Deus X Capital as Chief Executive.

Notes to Editors

Tim Grant is available for interview on October 8 and 9. High-resolution photography is available on request.

Sources: Accenture, "Europe Seeking Greater AI Sovereignty", November 2025; Gartner, reported by ITPro, February 2026.

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