Tenstorrent raises $1.5 billion at a $6.2 billion valuation to scale AI-server production

Santa Clara AI chip startup Tenstorrent has raised $1.5 billion in a Series E that values it at $6.2 billion post-money, more than double its December 2024 valuation, Reuters reports via The Economic Times. Trace Capital and Innovation X led the round, with ARK Invest, Sandisk, Morgan Stanley, T. Rowe Price and Tether Investments also backing it. Tenstorrent says the money will go into scaling production of its Galaxy servers, which combine dozens of its AI chips for workloads such as chatbots, coding assistants and video generators. The company designs AI chips and software on RISC-V, an open-source architecture that lets chipmakers build processors without licence fees. CEO Jim Keller previously led Tesla's self-driving chip effort and held design roles at Apple and AMD. Its previous round raised more than $693 million in December 2024 at a $2 billion pre-money valuation.

DTT summary based on Reuters via The Economic Times's report. The full article is on the publisher's site.