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Tenstorrent raises $1.5 billion Series E at $6.2 billion valuation

AI chip startup Tenstorrent has secured $1.5 billion in Series E funding at a $6.2 billion valuation, more than doubling its value from 2024.

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Image: @qz

Artificial intelligence chip startup Tenstorrent has raised $1.5 billion in a Series E funding round, boosting its valuation to $6.2 billion, according to a company statement provided to Bloomberg News. The massive capital injection follows takeover interest in the firm earlier this year.[1][4]

The funding round was led by Trace Capital alongside Innovation X. The new valuation more than doubles the company's previous $2.6 billion valuation, which was set after a $700 million raise in 2024.[2][5][6]

Tenstorrent plans to use the new proceeds to deploy its Galaxy servers at scale and support licensing for its RISC-V CPU and AI intellectual property, AGTP reported.[3]

Key facts

  • Tenstorrent raised $1.5 billion in a Series E funding round.
  • The Series E round valued Tenstorrent at $6.2 billion.
  • The round was led by Trace Capital alongside Innovation X.
  • Tenstorrent was previously valued at $2.6 billion after raising $700 million in 2024.
  • The startup attracted takeover interest earlier in the year, according to a statement given to Bloomberg News.
  • Proceeds from the round are earmarked for scaling Galaxy server deployment and licensing RISC-V CPU and AI IP.

Sources · 5 sources

  1. BL

    Bloomberg@businessPost on X ·

    AI chip startup Tenstorrent, after attracting takeover interest earlier this year, has raised $1.5 billion from investors in a funding round that boosts its valuation to $6.2 billion, according to a statement provided to Bloomberg News. https://t.co/9ZaCtmFOit

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  2. TE

    Techmeme@TechmemePost on X ·

    AI chip startup Tenstorrent raised a $1.5B Series E led by Trace Capital and Innovation X at a $6.2B valuation, up from $2.6B after raising $700M in 2024 (Bloomberg) (Visit Techmeme dot com for the link and full context!)

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  3. AG

    AGTP@AGTPinsightsPost on X ·

    BREAKING: Tenstorrent raises $1.5B Series E at a $6.2B valuation, led by Trace Capital and Innovation X. Funds will go to deploying Galaxy servers at scale and licensing its RISC-V CPU and AI IP. https://t.co/XTz0X7QQlb

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  4. AG

    AGTP@AGTPinsightsPost on X ·

    BREAKING: AI chip startup Tenstorrent raises $1.5 billion in a Series E round, lifting its valuation to $6.2 billion. The round was led by Trace Capital alongside Innovation X. https://t.co/k8VmZQsPG5

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  5. QU

    Quartz@qzPost on X ·

    Tenstorrent raised $1.​5 billion, more than doubling its valuation to $6.​2 billion: The AI chip startup's Series E round, led by Trace Capital, follows 2024 funding that valued it at $2.​6 billion dlvr.​it/TVzBs0 https://t.co/WjwWJOvkJk

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  6. TE

    TechmemeArticle ·

    AI chip startup Tenstorrent raised a $1.5B Series E led by Trace Capital and Innovation X at a $6.2B valuation, up from $2.6B after raising $700M in 2024 (Bloomberg) Bloomberg : AI chip startup Tenstorrent raised a $1.5B Series E led by Trace Capital and Innovation X at a $6.2B valuation, up from $2.6B after raising $700M in 2024 — AI chip startup Tenstorrent Inc., after attracting takeover interest earlier this year, has raised $1.5 billion from investors …

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