Tenstorrent Reaches $6.2 Billion Valuation with $1.5 Billion Investment
AI chip startup Tenstorrent has raised $1.5 billion in funding and increased its valuation to $6.2 billion to scale its chips focused on open-weight models and video generation.
AI chip startup Tenstorrent raised $1.5 billion in a funding round led by Trace Capital and Innovation X, boosting its valuation to $6.2 billion.
With the new funding, Tenstorrent more than doubled its valuation from the $2.6 billion level at the end of 2024. Jim Keller, the company's CEO and microprocessor engineer, stated that they decided to remain independent and raise additional capital after proving that Galaxy servers could run DeepSeek models. In addition to Trace Capital and Innovation X, Cadence Ventures, Eclipse, Fidelity, SanDisk, and T. Rowe Price participated in the funding round.
The 10-year-old startup, positioned as a rival to Nvidia, had received acquisition interest of up to $5 billion from Intel and Qualcomm about five months prior to this round. The newly raised capital will be used to develop and scale chips tailored for open-weight artificial intelligence models and video generation.
Sources
- techcrunch.com · Link