Tenstorrent raises $1.5 billion at a $6.2 billion valuation
Tenstorrent, an AI chip startup focused on inference computing and long-time competitor to Nvidia, has raised $1.5 billion in funding at a new $6.2 billion valuation. This marks more than double the company’s previous valuation of $2.6 billion from late 2024. The round was led by Trace Capital and Innovation X, with participation from major investors including Cadence Ventures, Fidelity, SanDisk, and T. Rowe Price. The funding will be used to scale production for chips optimized for open-weight AI models and video generation applications. CEO Jim Keller stated the company chose independence over acquisition offers after demonstrating its Galaxy servers could run DeepSeek’s large language models effectively. Tenstorrent is part of a growing trend in startups aiming to challenge Nvidia's dominance in the AI hardware market. Other notable players include Etched, another chip startup recently valued at $40 billion or more.
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Topics: AI Fundraising Tenstorrent
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