Tenstorrent Raises $1.5B Series E at a $6.2B Post-Money Valuation
Jim Keller's Tenstorrent announced a $1.5B Series E on Oct. 19 at a $6.2B post-money valuation, led by Trace Capital and Innovation X. Reuters via CNA says the valuation more than doubled from a December 2024 round of more than $693M at a $2B pre-money valuation.
Private money is still funding non-Nvidia chip challengers in the middle of a chip-stock rout. Tenstorrent on Monday, October 19 announced a $1.5 billion Series E at a $6.2 billion post-money valuation. The round was led by Trace Capital and Innovation X, with participation from Agostinelli Group, ARK Invest, Brett Barna, Cadence Ventures, Eclipse, Fidelity Management & Research Company, Maverick Silicon, Morgan Stanley, Protagonist, Sandisk, T. Rowe Price, Tether Investments, Troluce Capital, Virtu Financial and XTX Markets, the company said.
CEO Jim Keller said: "We built one architecture and sell it at every size." The company builds RISC-V-based AI processors and systems and will use the capital to deploy Galaxy servers at scale, it said. Reuters via CNA says the valuation more than doubled from December 2024, when Tenstorrent raised more than $693 million at a $2 billion pre-money valuation.
Limits
- Participant list and architecture wording are from Tenstorrent's release.