Hardware · Updated 20 Oct, 12:07 am IST
Tenstorrent raises $1.5B, values company at $6.2B to scale AI chips
Why it matters for readers: It explains why new chip companies are getting big funding and trying to run the AI models you hear about.
- Tenstorrent raised $1.5 billion at a $6.2 billion valuation, more than doubling its late‑2024 valuation of $2.6 billion.1
- The funding round was led by Trace Capital and Innovation X, with other backers including Cadence Ventures, Eclipse, Fidelity, SanDisk, and T. Rowe Price.1
- CEO Jim Keller said the company chose to remain independent after showing its Galaxy servers could run DeepSeek models.1
- Tenstorrent plans to use the new capital to scale chips tailored for serving open‑weight AI models and for video generation workloads.1
- The raise comes amid interest in Tenstorrent from Intel and Qualcomm earlier this year at valuations reported as high as $5 billion.1
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