Funding·October 19, 2026 at 7:00 AM EDT·3 sources
AI Chip Startup Tenstorrent Raises Funds at $6.2 Billion Value
raise, log scale$1.5B
$100M$1B$10B$100B
What happened
- Tenstorrent raised $1.5 billion in a Series E funding round, according to the sources.
- The round values the AI chip startup at $6.2 billion, up from $2.6 billion after its 2024 fundraising.
- Trace Capital and Innovation X led the round, according to Techmeme.
Funding raised
$1.5 billion
Valuation
$6.2 billion
2024 valuation
$2.6 billion
2024 funding
$700M
Why it matters
The financing gives Tenstorrent capital to scale its open-weight AI chips while remaining independent after reported acquisition interest. It also highlights continued investor appetite for AI-chip challengers.
Deal terms
raise
Tenstorrent Inc.
Value
$1.5B
Investors
Trace Capital, Innovation X
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Timeline
- First reported by BloombergOct 19AI Chip Startup Tenstorrent Raises Funds at $6.2 Billion Value
- Techmeme reportsOct 19AI chip startup Tenstorrent raised a $1.5B Series E led by Trace Capital and Innovation X at a $6.2B valuation, up from $2.6B after raising $700M in 2024 (Bloomberg)
- TechCrunch reportsOct 19Tenstorrent hits $6.2B valuation to scale open-weight AI chips
Who is involved
AI Chip Startup Tenstorrent Raises Funds at $6.2 Billion ValueTenstorrent Inc.targetTrace CapitalInnovation X
CompanyInvestor
Sources (3)
- BloombergOct 19AI Chip Startup Tenstorrent Raises Funds at $6.2 Billion Value
- TechmemeOct 19AI chip startup Tenstorrent raised a $1.5B Series E led by Trace Capital and Innovation X at a $6.2B valuation, up from $2.6B after raising $700M in 2024 (Bloomberg)
- TechCrunchOct 19Tenstorrent hits $6.2B valuation to scale open-weight AI chips
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