Tenstorrent Raises $1.5 Billion at $6.2 Billion Valuation
Summary
Tenstorrent raises $1.5 billion at a $6.2 billion valuation, more than double the $2.6 billion it fetched in late 2024. Trace Capital and Innovation X led the round. CEO Jim Keller told Bloomberg the chip startup stayed independent after its Galaxy servers ran DeepSeek models.
Key Points
- Trace Capital, which leads the round, is a new firm launched by Quiet Capital co-founder Ben Mahdavi.
- Intel and Qualcomm reportedly show acquisition interest in Tenstorrent at valuations up to $5 billion five months before the round.
- Tenstorrent says the new capital goes toward scaling chips for open-weight AI models and video generation.