Tenstorrent lands $1.5B Series E, valuing AI chip firm at $6.2B

Tenstorrent raised $1.5 billion in Series E funding, lifting its valuation to $6.2 billion from about $2.6 billion. The round was led by Trace Capital and Innovation X, with backing from ARK Invest, Fidelity, Morgan Stanley, T. Rowe Price, and others. The Santa Clara-based company is positioning itself as an independent alternative to Nvidia in AI computing hardware and software.

Tenstorrent, based in Santa Clara and led by Jim Keller, says the Series E will help expand its Galaxy server lineup. Those systems combine multiple AI processors for workloads such as large language models, coding assistants, and video generation. The company also licenses its TT-Ascalon RISC-V CPU and Tensix AI cores to customers, including Samsung and LG.

The new round follows a December 2024 raise of over $693 million, when Tenstorrent was valued near $2.6 billion. Reports in June said Qualcomm had discussed a possible acquisition valued at $8 billion to $10 billion, but no deal was announced. Investors in the latest round include ARK Invest, Fidelity, Morgan Stanley, T. Rowe Price, SanDisk, Tether Investments, Cadence Ventures, and Protagonist.

Count: First para: Tenstorrent(1), based2, in3, Santa4, Clara5, and6, led7, by8, Jim9, Keller10, says11, the12, Series13, E14, will15, help16, expand17, its18, Galaxy19, server20, lineup21. Those22 systems23 combine24 multiple25 AI26 processors27 for28 workloads29 such30 as31 large32 language33 models34, coding35 assistants36, and37 video38 generation39. The40 company41 also42 licenses43 its44 TT-Ascalon45 RISC-V46 CPU47 and48 Tensix49 AI50 cores51 to52 customers53, including54 Samsung55 and56 LG57. Good 57.

Second: The1 new2 round3 follows4 a5 December6 20247 raise8 of9 over10 $69311 million12, when13 Tenstorrent14 was15 valued16 near17 $2.618 billion19. Reports20 in21 June22 said23 Qualcomm24 had25 discussed26 a27 possible28