Tenstorrent has closed a $1.5 billion Series E at a $6.2 billion post-money valuation, The Next Web reported, citing the company’s Monday announcement. Trace Capital and Innovation X led the financing. Tenstorrent builds AI computing systems for customers running open-weight models, selling products that range from a single accelerator card or workstation to server racks and larger clusters.
Its Galaxy servers run workloads spanning large language models and video generation. Rather than offering only a chip, Tenstorrent combines RISC-V processors with an open-source software stack, then packages that architecture at multiple sizes. Customers can buy hardware or custom designs, or license Tenstorrent’s AI and CPU designs for chips of their own; Samsung and LG are among the companies using the licensing route.
The company said it will use the new money to deploy Galaxy servers at scale and continue developing the designs it licenses. That gives Tenstorrent two ways to commercialize the same underlying architecture: sell complete computing systems itself, or supply intellectual property to companies building their own silicon. The financing supports both paths rather than narrowing the company to a single chip product.
The new price is more than twice Tenstorrent’s $2.6 billion valuation after its 2024 round, TNW reported, citing Bloomberg. The step-up also follows a flirtation with an exit: Tenstorrent discussed a possible takeover this year with companies including Intel and Qualcomm, according to the same chain of reporting. CEO Jim Keller told Bloomberg that Tenstorrent chose to raise money instead of selling.
Keller said a May demonstration of Galaxy servers running high-performance DeepSeek models was a turning point. He also said Tenstorrent can compete on price and accept orders that may be too small for larger chipmakers. Those are management claims, but they explain the deployment push: Galaxy is being positioned as a commercial system for a wider range of order sizes, not merely a technical showcase.