AI chipmaker Tenstorrent has raised $1.5 billion in a funding round that values the company at $6.2 billion--more than twice its valuation in late 2024. The round was led by Trace Capital and Innovation X, with participation from Cadence Ventures, Eclipse, Fidelity, SanDisk and T. Rowe Price.
CEO Jim Keller said the company chose to remain independent and seek new investment after its Galaxy servers demonstrated they could run DeepSeek models. Tenstorrent plans to use the funding to scale chips designed for serving open-weight AI models and generating video.
By expanding its hardware capabilities, Tenstorrent aims to support a wider range of AI systems. Continued investment in purpose-built chips could give developers more options as demand for AI computing grows.
