Chip startup Tenstorrent secures $1.5 billion in funding to reach a $6.2 billion valuation.
Chip startup Tenstorrent has secured $1.5 billion in a new funding round, pushing its valuation to $6.2 billion. The ten-year-old company focuses on inference, the process of running a trained artificial intelligence model to make predictions.
Chip startup Tenstorrent has secured $1.5 billion in a new funding round, pushing its valuation to $6.2 billion. The ten-year-old company focuses on inference, the process of running a trained artificial intelligence model to make predictions. Trace Capital and Innovation X led the investment. Additional backers included Fidelity, T. Rowe Price, Eclipse, Cadence Ventures, and SanDisk.
The fresh financing more than doubled Tenstorrent's valuation from late 2024, when it reached $2.6 billion. Five months ago, the startup reportedly drew acquisition interest from Intel and Qualcomm at valuations up to $5 billion. CEO Jim Keller told Bloomberg that Tenstorrent chose to remain independent after demonstrating that its Galaxy servers successfully run DeepSeek models.
The company plans to use the capital to scale production of specialized microprocessors tailored for serving open-weight AI models, which are publicly available for modification, and video generation workloads. Tenstorrent operates among a group of hardware startups attempting to challenge Nvidia's market dominance.
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Original publication: 20 October 2026 00:07
