Tenstorrent raises $1.5 billion at a $6.2 billion valuation
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Tenstorrent, a chip startup focused on inference, raised $1.5 billion in a round valuing the company at $6.2 billion. The round was led by Trace Capital and Innovation X, with participation from Cadence Ventures, Eclipse, Fidelity, SanDisk, and T. Rowe Price. TechCrunch reports that five months earlier, the company had received acquisition interest from Intel and Qualcomm at valuations of up to $5 billion.
Tenstorrent CEO Jim Keller told Bloomberg that the company decided to remain independent and raise more capital after demonstrating that its Galaxy servers could run DeepSeek models. The new capital will be used to scale chips designed to serve open-weight AI models and generate video.
Why it matters · editorial interpretation
The round underscores competition for capital and alternative inference hardware, while Tenstorrent says it will use the funds to scale chips aimed at open-weight models and video generation. The decision to remain independent also matters in light of the acquisition interest reported by TechCrunch.
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