Tenstorrent closes $1.5 billion funding round at $6.2 billion valuation

Tenstorrent said it closed the $1.5 billion Series E at a $6.2 billion post-money valuation.[1] Trace Capital and Innovation X led the round.[1] The company said participants included new and existing investors, naming Agostinelli Group, ARK Invest, Brett Barna, Cadence Ventures and Eclipse.[1]

Tenstorrent said the equity proceeds will fund volume manufacturing and global commercial expansion.[1] It also plans to deploy Galaxy servers at scale.[1] Those servers are intended to serve open-weight models for large language models and video generation.[1] Tenstorrent said it will also use the capital to advance AI and CPU intellectual property that it licenses to customers designing their own silicon.[1] The stated plans span both selling computing systems and supplying technology for customer-designed chips.[1]

Tenstorrent says it sells AI compute products ranging from individual cards and workstations to racks, superclusters and custom intellectual property.[1] Its open-source software, the company says, lets developers run frontier models locally and enterprises deploy models on-premises.[1] Tenstorrent builds AI processors and systems based on the open RISC-V architecture.[1] It licenses its TT-Ascalon RISC-V CPU and Tensix AI cores to chip designers including Samsung and LG.[1]

Tenstorrent’s previous Series D raised more than $693 million at a $2 billion pre-money valuation.[3] A report says the new valuation more than doubled the company’s valuation from December 2024.[2] Tenstorrent has begun commercially shipping Galaxy servers, according to a report.[4] A quoted speaker said the company’s video-generation results beat industry benchmarks ahead of expectations.[1] Another speaker said more competition and deployment options could make enterprise AI workloads cheaper and more flexible; that is a stated possibility, not a reported cost reduction.[5]