Tenstorrent raises $1.5 billion at $6.2 billion valuation

AI-chip startup Tenstorrent said it raised $1.5 billion, valuing it at $6.2 billion post-money—more than double its December 2024 valuation.

The Santa Clara company plans to scale Galaxy servers, which combine dozens of its chips for chatbots, coding assistants and video generators. It develops chips and software around open RISC-V rather than proprietary ecosystems such as Arm.

RISC-V can reduce licensing dependence, but success still depends on performance, software and supply.

The fundraise gives Tenstorrent capital to move from development toward production; it does not establish customer volume or prove a challenge to Nvidia at scale.

The round also gives the company room to build a complete hardware-software proposition, an important step because AI buyers often select an ecosystem rather than a chip alone.

Image: Courtesy of Tenstorrent.

Sources

• Reuters
• Tenstorrent