Tenstorrent hits $6.2B valuation to scale open-weight AI chips
techcrunch ·
Tenstorrent, an AI chip startup specializing in inference, has secured $1.5 billion in funding at a $6.2 billion valuation. This latest investment round more than doubles the company's previous $2.6 billion valuation from late 2024 and is led by Trace Capital and Innovation X. The decision to remain independent follows reported acquisition interest from Intel and Qualcomm at lower valuations earlier this year. CEO Jim Keller stated that the capital will be used to scale chips designed for serving open-weight AI models and video generation. Tenstorrent aims to challenge Nvidia’s market dominance alongside other emerging hardware startups like Etched. The company recently demonstrated its Galaxy servers' ability to run DeepSeek models, bolstering its case for continued independence. Major backers in this round include Fidelity, Cadence Ventures, and T. Rowe Price. This development highlights the intense competition and high stakes in the specialized AI hardware sector.
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