Gary Wu studied economics at the University of Oxford. In 2017 he co-founded Fluidstack with Jamie Cox, who studied classics at Oxford and left to become a Thiel Fellow.
In 2020 the company shifted during the Covid period to renting larger pools of GPUs, and Cesar Maklary joined as a co-founder.
Revenue grew from $1.8m in 2022 to $30m in 2023 and $66.2m in 2024. In November 2025 Anthropic selected Fluidstack to build custom data centres in New York and Texas.
In September 2026 Fluidstack raised $1.5bn in a round led by Jane Street at a valuation above $18bn.