AI chip startup Tenstorrent raises $1.5 billion at $6.2 billion valuation
Tenstorrent has raised $1.5 billion in a Series E round valuing the AI chip startup at $6.2 billion post-money, more than doubling its 2024 valuation as it scales production of its Galaxy servers.
AI chip startup Tenstorrent said on Monday it has raised $1.5 billion in a late-stage funding round that values the company at $6.2 billion post-money, more than doubling its valuation from December 2024, Reuters reported.
The Series E round was led by Trace Capital and Innovation X, with participation from Cathie Wood’s ARK Invest, Sandisk, Morgan Stanley, T. Rowe Price and Tether Investments, the company said. Tenstorrent said the funds will be used to scale production of its Galaxy servers, which combine dozens of its AI chips to power chatbots, coding assistants and video generators.
The Santa Clara, California-based company develops AI chips and software built on the RISC-V open-source chip architecture, which avoids licence fees and reduces dependence on proprietary ecosystems such as Arm’s, according to Reuters.
Tenstorrent is led by Jim Keller, the prominent chip architect who previously led Tesla’s self-driving chip effort and held key design roles at Apple and AMD.
Its previous round in December 2024 raised more than $693 million at a $2 billion pre-money valuation, led by Samsung Securities and AFW Partners.
Sources:
- Reuters: https://www.reuters.com/business/autos-transportation/ai-chip-startup-tenstorrent-more-than-doubles-its-valuation-62-billion-funding-2026-10-19/
- Channel News Asia (Reuters-sourced): https://www.channelnewsasia.com/business/ai-chip-startup-tenstorrent-more-doubles-its-valuation-62-billion-in-funding-round-6471861
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