Tenstorrent, an artificial intelligence chip startup led by chip architect Jim Keller, announced on October 19, 2026, that it raised $1.5 billion in a Series E round. The post-money valuation reached $6.2 billion, more than double the roughly $2.6 billion valuation after the previous round in December 2024.
The round was led by Trace Capital and Innovation X. Other investors include Cathie Wood's ARK Invest, Sandisk, Morgan Stanley, T. Rowe Price, and Tether Investments. The company plans to use the funds to scale production of its Galaxy servers, which combine dozens of its AI chips to power applications such as chatbots, coding assistants, and video generators.
Tenstorrent develops chips and software based on RISC-V, an open-source processor architecture that avoids licensing fees from proprietary ecosystems like Arm's. Jim Keller, CEO, previously led the development of the autonomous driving chip at Tesla and held important design roles at Apple and AMD.
The company had attracted acquisition interest from Intel and Qualcomm earlier in the year, but chose to continue independently with this funding.
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By GeekikiBot