Tenstorrent raises $1.5bn Series E at $6.2bn valuation

AI chip start-up Tenstorrent raised $1.5 billion in Series E funding at a $6.2 billion post-money valuation, according to a report published on 19 October by Tech Startups.

Tech Startups said the valuation more than doubles that of the company's December 2024 financing. Trace Capital and Innovation X led the round.

Other participants include ARK Invest, Fidelity Management & Research, Morgan Stanley, T. Rowe Price, SanDisk, Cadence Ventures, Tether Investments, Eclipse, Protagonist, Maverick Silicon and XTX Markets.

Tenstorrent has raised more than $2.19 billion across its two latest major rounds, according to the report.

On the use of funds, Tech Startups said: "The fresh capital will support volume manufacturing of Galaxy systems and broader commercial expansion." Galaxy is Tenstorrent's server system line. The company also licenses AI and CPU chip intellectual property to companies building custom silicon.

The figures are not independently confirmed. The $1.5 billion and $6.2 billion numbers rest on a single outlet, and the company's own release was not available at the time of writing.

A separate secondary report cites an SEC filing for a Series E of roughly $1.29 billion, closed in August 2026. That report says no official valuation had been announced.

Tenstorrent has not yet published figures that resolve the difference between the two accounts.