Tenstorrent Raises $1.5 Billion at $6.2 Billion Valuation to Scale Open-Weight AI Chips
· Technology · TechCrunch
Tenstorrent has raised $1.5 billion in a funding round that pushes its valuation to $6.2 billion. The 10-year-old AI chip startup, led by CEO Jim Keller, plans to use the capital to scale chips tailored for open-weight AI models and video generation. The latest financing round was co-led by Trace Capital and Innovation X, with participation from Cadence Ventures, Eclipse, Fidelity, SanDisk, and T. Rowe Price. This funding follows reports that Intel and Qualcomm explored acquiring the company at valuations reaching up to $5 billion. Tenstorrent remains independent after demonstrating that its Galaxy servers successfully run DeepSeek models.
Why it matters
The funding strengthens Tenstorrent's position as a major hardware competitor against Nvidia in the expanding market for open-weight AI infrastructure.
Read the original report — TechCrunch
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