Tenstorrent raises $1.5 billion at $6.2 billion valuation
The chip startup stays independent and uses the new funding to scale hardware for open-weight AI models and video generation.
Tenstorrent has raised $1.5 billion at a $6.2 billion valuation, giving the chip startup fresh capital to keep building inference hardware for open-weight AI models instead of pursuing a sale. The round more than doubled its late-2024 valuation of $2.6 billion and was led by Trace Capital and Innovation X, with support from Cadence Ventures, Eclipse, Fidelity, SanDisk, and T. Rowe Price. CEO Jim Keller said the company opted to stay independent after its Galaxy servers demonstrated support for DeepSeek models. Tenstorrent says the money will be used to scale chips for serving open-weight AI systems and video generation.
Why it matters
The new round gives Tenstorrent more room to keep building its own chip business instead of selling, after proving its Galaxy servers could run DeepSeek models. For customers and partners, that means the company is betting more heavily on chips aimed at serving open-weight AI systems and video generation, backed by a much higher valuation than late 2024.
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Sources
- TechCrunch