For an Arens-Michael algebra we consider a class of --bimodules which are invertible with respect to the projective bimodule tensor product. We call such bimodules topologically invertible over . Given a Fr'echet-Arens-Michael algebra and an topologically invertible Fr'echet --bimodule , we construct an Arens-Michael algebra which serves as a topological version of the Laurent tensor algebra . Also, for a fixed algebra we provide a condition on an invertible -bimodule sufficient for the Arens-Michael envelope of to be isomorphic to . In particular, we prove that the Arens-Michael envelope of an invertible Ore extension $A[x, x^{-1}; \alpha]\widehat{L}{\widehat{A}}(\widehat{A}{\widehat{\alpha}})$ provided that the Arens-Michael envelope of is metrizable.

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