Tenstorrent, a 10-year-old startup specializing in AI inference chips, has secured $1.5 billion in a new funding round. This investment brings the company's total valuation to $6.2 billion, more than double its $2.6 billion valuation from late 2024.
The financing round was led by Trace Capital and Innovation X. Other participants included Fidelity, T. Rowe Price, Cadence Ventures, Eclipse, and SanDisk. The company previously drew acquisition interest from Intel and Qualcomm at valuations reaching up to $5 billion.
CEO Jim Keller stated that the company opted to remain independent after demonstrating that its Galaxy servers could successfully run DeepSeek models. The newly raised funds are earmarked for scaling production of chips specifically designed for open-weight AI models and video generation tasks.
