Tenstorrent secures $1.5 billion, pushing valuation to $6.2 billion
AI chip maker Tenstorrent raised $1.5 billion in a Series E round, lifting its post-money valuation to $6.2 billion, more than double its December 2024 level.
Tenstorrent, an AI chip designer headquartered in Santa Clara, California, disclosed a $1.5 billion Series E financing that raises its post-money valuation to $6.2 billion, more than twice the figure reported in December 2024. The round was spearheaded by Trace Capital and Innovation X, while other backers included ARK Invest, Sandisk, Morgan Stanley, T. Rowe Price and Tether Investments. The capital will fund scaling of the company’s Galaxy server platform, which aggregates dozens of its RISC-V based AI processors to support applications like conversational agents, coding assistants and video creation tools.
Jim Keller, the chief executive and a noted chip architect with prior leadership roles at Tesla, Apple and AMD, said the funding will accelerate production capacity. Tenstorrent’s previous round in December 2024 raised over $693 million at a $2 billion pre-money valuation, led by Samsung Securities and AFW Partners.
Why it matters
The financing fuels rapid growth of a key AI-chip player, influencing competition and supply in the emerging AI hardware market.
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