Tenstorrent raises $1.5bn at $6.2bn valuation
What happened
AI digest
On 20 October 2026, AI chip startup Tenstorrent announced it had completed a $1.5 billion funding round at a $6.2 billion valuation. The round was led by Trace Capital and Innovation X, with participation from Cadence Ventures, Eclipse, Fidelity, SanDisk and T. Rowe Price. The valuation is more than double the $2.6 billion reported at the end of 2024, according to reports. The company said it will use the funds to expand its open-weight AI chip business.
Written by AI from the reports · updated 58 min ago
Timeline
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Oct 20
- TechCrunch · AITenstorrent hits $6.2B valuation to scale open-weight AI chips
After drawing acquisition interest earlier this year, the Nvidia challenger raised $1.5 billion to remain independent.
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