Tenstorrent Raises $1.5B, Valuation Doubles to $6.2B

AI chip startup Tenstorrent has completed a $1.5 billion Series E funding round, doubling its valuation to $6.2 billion from $2.6 billion in late 2024. Led by renowned engineer Jim Keller, the company has solidified its position as a key challenger in the high-performance inference market.

Reports confirm that Tenstorrent rejected acquisition offers from Intel and Qualcomm to maintain independence, focusing instead on supporting open-weight models. The new capital will accelerate mass production of hardware like the Galaxy server and expand global commercial operations, directly targeting Nvidia's dominance.

This significant investment underscores growing market demand for specialized inference chips optimized for open-source ecosystems. By scaling production, Tenstorrent aims to reshape the AI compute supply chain and lower deployment costs for large language models.