Tenstorrent Raises $1.5 Billion at a $6.2 Billion Valuation to Scale AI Chips

What happened

Tenstorrent, an inference-focused chip startup, raised $1.5 billion at a $6.2 billion valuation. The round was led by Trace Capital and Innovation X, with backing from Cadence Ventures, Eclipse, Fidelity, SanDisk, and T. Rowe Price. CEO Jim Keller told Bloomberg the company chose to remain independent after demonstrating that its Galaxy servers could run DeepSeek models; the new capital will scale chips for serving open-weight AI models and video generation.

The story so far

Tenstorrent raised $1.5 billion at a $6.2 billion valuation to scale its chips for serving open-weight AI models and video generation while remaining independent. Trace Capital and Innovation X led the funding round, with backing from Cadence Ventures, Eclipse, Fidelity, SanDisk, and T. Rowe Price. The startup focuses on inference—the work of running AI models to produce outputs. CEO Jim Keller told Bloomberg that Tenstorrent chose to remain independent after demonstrating that its Galaxy servers could run DeepSeek models.

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