Tenstorrent raises $1.5B, valuation doubles to $6.2B for Galaxy servers
Business
AI chip maker Tenstorrent just scored a massive $1.5 billion funding round, more than doubling its valuation to $6.2 billion.
The company says the cash will help speed up production of its Galaxy servers, which power things like chatbots and video generators.
Big names like ARK Invest and Tether Investments are backing the move.
Trace Capital co-leads Series E
This Series E round was led by Trace Capital and Innovation X, with support from Sandisk, Morgan Stanley, and T. Rowe Price. Tenstorrent plans to use the funds to scale production of its Galaxy servers.
The fresh investment builds on December 2024's more than $693 million raise, helping Tenstorrent step up in the competitive AI hardware game and rely less on proprietary tech giants.