Three companies approved for tax incentives, billions in investment

An artificial intelligence-focused cloud computing company has picked Clark County for its global headquarters.

TensorWave will open a 20,000-square-foot space in Town Square by this fall and is looking to create 150 jobs, with an average wage of $58 per hour, according to the Governor’s Office of Economic Development.

TensorWave is one of three companies with plans to expand that received tax incentives from the state. The companies are anticipated to bring hundred of high-paying jobs, invest around $3.7 million and generate $42 million in new tax revenues over the 10-year abatement period.

TensorWave was approved for $210,000 in abatements. It is expected to make a $1 million capital equipment investment within two years and generate $26 million in new taxes over the 10 years, according to GOED.

Gum and mint company NeuroGum Inc. is opening a 50,000-square-foot distribution and fulfillment facility at 4675 S. Valley View Blvd. in August. The company was approved for $63,000 in abatements and plans to create 62 jobs at an average wage of $40 within five years, according to GOED. NeuroGum is expected to make a $300,000 capital equipment investment within two years and generate $5 million in new taxes over 10 years.

The celebrity-endorsed company, which has made fans of DJ/record producer Steve Aoki and skateboarding icon Tony Hawk, is known for its nootropic formulas which claim to boost energy and cognitive focus.

Tire distribution and services company Dealer Tire LLC is launching a 116,000-square-foot distribution and fulfillment center in Clark County to streamline maintenance and tire delivery operations, according to GOED. The company was approved for $197,000 in abatements and plans to create 30 jobs within five years at an average wage of $35.50.

Dealer Tire is expected to make a $2 million capital equipment investment within the first two years of operation and generate $8.6 million in new tax revenue over 10 years, according to GOED.

AI cloud computing

TensorWave raised the largest startup funding in Nevada history in October, landing $43 million in seed funding. The funding was led by Nexus VP, with participation from Maverick Capital, Translink Capital, Javelin Venture Partners, Granite Partners and AMD Ventures.

TensorWave is an AI GPU cloud computing company. A GPU, or graphic processing unit, is a small chip used in computers that can perform thousands of tasks simultaneously and process large amounts of data. They help create pictures, 3D images and perform video playback on computers, among other things.

However, just one GPU can cost thousands of dollars and require large clunky equipment; and the bigger the company the more GPUs are needed.

What TensorWave does is allow for companies to utilize their thousands of GPUs for large processing. Their main focus is to help AI companies and startups train and use their AI models, while cutting down on time and equipment, while clients can pay as they go depending on how often and how much they use.

Contact Emerson Drewes at edrewes@reviewjournal.com. Follow @EmersonDrewes on X.