Tenstorrent raises 1.5 billion dollars in Series E funding

Tenstorrent has raised 1.5 billion dollars in a Series E funding round, according to Tech Insider and Crunchbase News. The round values the Santa Clara based developer of artificial intelligence processors and systems at 6.2 billion dollars. Trace Capital and Innovation X co-led the investment deal. [1][4]

Tech Insider reported that artificial intelligence companies secured the top two spots in weekly funding, with Flapping Airplanes following Tenstorrent by raising 1 billion dollars in a Series A round. Seven confirmed rounds brought in a total of 3.727 billion dollars across sectors including artificial intelligence chips, foundation model laboratories, global positioning systems, and drug discovery. [1]

The Cryptonomist reported that the 1.5 billion dollar round for Tenstorrent accounted for 85.1 percent of crypto venture capital funding in the period. Tenstorrent emphasizes hardware and software co-design to deliver scalable artificial intelligence compute, using open architectures that allow users to customize silicon and software. [2][7]

The company operates offices in Austin, Texas, and Toronto alongside its Santa Clara headquarters. Tenstorrent previously raised over 1 billion dollars in total funding, including a 693 million dollar Series D round in 2024 that valued the business at more than 2 billion dollars pre-money to expand open-source software and build products like its Blackhole PCIe accelerators. [7]