Tenstorrent Raises $1.5 Billion in Series E Funding

Tenstorrent closed $1.5 billion in Series E funding at a $6.2 billion post-money valuation, the company said in an announcement. The round was led by Trace Capital and Innovation X, with participation from investors including ARK Invest, Fidelity Management & Research Company, Morgan Stanley, Sandisk, T. Rowe Price and XTX Markets.

Tenstorrent will use the money to deploy its Galaxy servers at scale for serving open-weight models, including language and video generation models, and to advance the AI and CPU intellectual property it licenses to companies designing their own chips. Its TT-Ascalon RISC-V CPU and Tensix AI cores are licensed to chip designers including Samsung and LG.

The company sells AI compute from single cards and workstations up to racks, superclusters and custom IP, with an open-source software stack. It is led by CEO Jim Keller, the chip architect behind Apple's A4 and A5, AMD's Zen and Tesla's Full Self-Driving chip, and operates from Santa Clara, Austin, Toronto, Belgrade, Tokyo and Bangalore.