Overview
- Tenstorrent disclosed Monday that it closed a $1.5 billion Series E at a $6.2 billion post‑money valuation, more than doubling its late‑2024 value.
- The company said it will use the capital to ramp production of Galaxy servers, which group dozens of Tenstorrent AI chips to run chatbots, coding assistants and video‑generation models.
- Tenstorrent builds chips and software around the open RISC‑V instruction set and plans to expand IP licensing so customers can run and modify open‑weight models.
- The round was led by Trace Capital and Innovation X and includes institutional backers such as ARK Invest, Morgan Stanley, SanDisk and T. Rowe Price, reinforcing the company’s choice to remain independent after reported buyer interest from Intel and Qualcomm.
- The deal lands as demand for specialized inference hardware grows, with buyers seeking lower cost, faster inference or more open stacks than Nvidia’s GPUs offer, and Tenstorrent positions itself as a RISC‑V alternative to incumbents.