CONNECT WITH US
AI & Deeptech

AI & Deeptech

AI chip startup Tenstorrent more than doubles its valuation to $6.2 billion in funding round

IndiaTimes (ET) - AI logo

Published on

Add as a preferred source on Google
AI chip startup Tenstorrent more than doubles its valuation to $6.2 billion in funding round

Business News Tech AI AI chip startup Tenstorrent more than doubles its valuation to $6.2 billion in funding round

AI chip startup Tenstorrent more than doubles its valuation to $6.2 billion in funding round

Based in Santa Clara, Tenstorrent has just secured an impressive $1.5 billion in its latest funding round, propelling the AI chip startup's valuation to $6.2 billion, a leap since late 2024. This investment will significantly bolster the production of their Galaxy servers, which are crucial across various applications. Among the diverse investors backing this initiative are renowned firms like ARK Invest and T.

Tenstorrent said on Monday it raised $1.5 billion in a late-stage funding round that valued the AI chip startup at $6.2 billion post-money, more than doubling its valuation from December 2024. Here are some more details: The Santa Clara, California-based company said it would use the funding to scale production of its Galaxy servers, which combine dozens of its AI chips to power applications including chatbots, coding assistants and video generators.

Tenstorrent develops AI chips and software using RISC-V, an open-source chip architecture that enables companies to design processors without license fees and reduce dependence on proprietary chip ecosystems such as Arm's The Series E round was led by Trace Capital and Innovation X. Other backers included Cathie Wood's ARK Invest, Sandisk , Morgan Stanley, T. Rowe Price and Tether Investments. Tenstorrent CEO Jim Keller, a prominent chip architect, previously led Tesla's efforts to develop a self-driving chip for electric vehicles and held key design roles at Apple and AMD among others.


Source link
Related Topics:AI & Deeptech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.