Tenstorrent Secures $1.5 Billion Series E Funding at $6.2 Billion Valuation to Expand AI Computing

Image: Tenstorrent · Source

Tenstorrent has raised $1.5 billion in Series E funding at a $6.2 billion valuation to scale production and expand its AI compute offerings globally, supporting developers and enterprises with versatile AI hardware and software.

Tenstorrent, an AI computing firm recognized for its unified architecture spanning from individual AI cards to large-scale superclusters, announced the closure of a $1.5 billion Series E funding round. This investment values the company at $6.2 billion post-money. Leading the round were Trace Capital and Innovation X, while new and returning investors participated, including major names such as ARK Invest, Fidelity Management, Morgan Stanley, and T. Rowe Price, among others.

The capital infusion is earmarked to support volume manufacturing of Tenstorrent's Galaxy servers and accelerate their global commercial expansion. These servers support open-weight models used in large language models (LLMs) and video generation, marking the company's continued commitment to servicing advanced AI workloads. Additionally, Tenstorrent plans to advance its AI and CPU intellectual property, licensed to hardware designers crafting custom silicon solutions.

Tenstorrent's approach revolves around a singular architecture scalable across computing needs—from single cards and local workstations to racks and massive superclusters. Their open-source software stack enables developers to run leading-edge AI models locally and allows enterprises to deploy these models with industry-leading latency and throughput in on-premises settings.

Jim Keller, CEO of Tenstorrent and renowned for his leadership on Apple’s A4/A5 chips, AMD Zen, and Tesla’s Full Self-Driving chip, commented: “We built one architecture and sell it at every size. The future of compute is open, scalable, and owned by the people building on it. Our investors believe in that model too, and we appreciate their support.”

Trace Capital’s founder Ben Mahdavi highlighted Tenstorrent’s unique capabilities, noting the combined silicon, software, and IP expertise driving their growth. Industry voices also emphasize Tenstorrent’s exceptional performance in video generation and AI inference benchmarks.

Operating globally with offices in Santa Clara, Austin, Toronto, Belgrade, Tokyo, and Bangalore, Tenstorrent also licenses its RISC-V CPU and AI cores to major tech companies such as Samsung and LG. Backed by investors including Bezos Expeditions and Hyundai Motor Group, the company is positioned as a key player in sovereign and enterprise AI compute infrastructure.

This latest funding round positions Tenstorrent to expand its influence amid growing demand by chip designers, sovereign entities, and inference platforms aiming to own their AI compute capabilities.