Tenstorrent said in its Oct. 19 announcement that Tether Investments participated in its $1.5 billion Series E, giving the AI chipmaker funds to expand production and deploy more servers worldwide.
Including the new capital, Tenstorrent was valued at $6.2 billion. The company identified Trace Capital and Innovation X as the lead investors. It also listed ARK Invest, Fidelity Management & Research Company, Morgan Stanley, Sandisk and T. Rowe Price among the backers. Tenstorrent did not specify how much each participant invested.
Tenstorrent intends to increase manufacturing capacity and broaden its commercial operations internationally. The financing will also support more Galaxy server deployments and further work on AI and CPU designs that it licenses to customers developing their own chips. EconoTimes previously covered Tenstorrent's manufacturing and Galaxy server plans.
The company sells AI processors and systems as well as licensable chip designs. Its products are based on RISC-V, an open-standard instruction set. Tenstorrent says its Galaxy servers support language models with open weights and video-generation tasks. Samsung and LG are among the chip designers using its technology.
The latest financing follows a December 2024 Series D in which Tenstorrent raised more than $693 million. Samsung Securities and AFW Partners led that round, which carried a $2 billion pre-money valuation. The Series D figure excludes the capital raised in that round, while the new $6.2 billion figure includes the Series E investment, so the two valuations are measured on different bases.
Tenstorrent has not given a production target or a timetable for the planned Galaxy server deployments.
