Round size and valuation
AI chip company Tenstorrent announced it has raised $1.5 billion in a Series E round. The deal puts the company at a $6.2 billion post-money valuation. The firm is led by well-known chip designer Jim Keller.
Who invested
Trace Capital and Innovation X led the round. New and existing investors took part, including Agostinelli Group, ARK Invest, Cadence Ventures, Eclipse, Fidelity, Maverick Silicon, Morgan Stanley and Protagonist.
Where the money goes
The company plans to use the funds to scale its Galaxy servers, the server offering built around its AI chips.
Why it matters
Investment appetite for AI hardware remains strong. Tenstorrent is one of the names drawing attention from those seeking alternatives in a chip market dominated by NVIDIA.
