AI Chip Startup Tenstorrent More Than Doubles Valuation to $6.2 Billion in Funding Round

3-line summary

• Santa Clara-based AI chip and software maker Tenstorrent raised $1.5 billion in a Series E round led by Trace Capital and Innovation X, with participation from ARK Invest, Sandisk, Morgan Stanley, T. Rowe Price, and Tether Investments, valuing the company at a $6.2 billion post-money valuation; this compares with a December 2024 round that raised more than $693 million at a $2 billion pre-money valuation led by Samsung Securities and AFW Partners.
• Tenstorrent builds AI chips using the open-source RISC-V architecture; its flagship Galaxy server combines dozens of AI chips to support applications including chatbots, coding assistants, and video generation. The company is led by CEO Jim Keller, previously head of Tesla's self-driving chip development and a prior lead designer at Apple and AMD.
• Tenstorrent said the new funding will be used to scale production of its Galaxy servers.

This summary is our own processing of the source article; see the source link below for full context.