That depends on how you define an inverse. y=x2 has no inverse function and we can say it has no inverse.Is it that y=x2 has no inverse or that it has an inverse which is not a function?
The inverse being x=±y
An inverse is a unary operation. It requires to know on which set!
If we use the language (set) of relations then inverting a relation is simply interchanging the components. If there is a relation R between the sets A and B, sometimes written ARB or A∼RB then R is a subset of A×B. Say we have R=A×B to keep it simple. This means R={(x,y)∣x∈A,y∈B}. The inverse relation would then be R−1={(y,x)∣x∈A,y∈B}. Since f is a relation, we can define a relation f−1 by f−1={(f(x),x)} instead of f={(x,f(x))}.
If f(x)=x2 then (−1,1),(1,1)∈f and (1,−1),(1,1)∈f−1. However, this isn't a function any longer, since this would mean that we have f−1(1)=−1 and f−1(1)=1.
Long story short ...
... which is no function.The inverse being f−1(y)=x=±y