Chip start-up Tenstorrent has raised $1.5 billion at a valuation of $6.2 billion, more than double the $2.6 billion it was valued at in late 2024, TechCrunch reports.
The round was led by Trace Capital and Innovation X, with Fidelity, T. Rowe Price, SanDisk, Eclipse and Cadence Ventures also taking part. It comes about five months after Intel and Qualcomm were reported to have shown interest in buying the company at valuations of up to $5 billion.
Chief executive Jim Keller told Bloomberg that the company chose to stay independent after showing its Galaxy servers could run DeepSeek models. The money will be used to scale up chips designed to serve open-weight AI models and video generation. Tenstorrent is one of several start-ups trying to challenge Nvidia's lead in AI hardware.
Source: TechCrunch
