Tenstorrent Raises $1.5B Series E at a $6.2B Valuation

Tenstorrent, the AI chip company led by Jim Keller, has closed a $1.5 billion Series E at a $6.2 billion post-money valuation, the company announced on October 19, 2026.

Who’s in the round

The round was led by Trace Capital and Innovation X. New and existing investors joining include Agostinelli Group, ARK Invest, Brett Barna, Cadence Ventures, Eclipse, Fidelity Management & Research Company, Maverick Silicon, Morgan Stanley, Protagonist, Sandisk, T. Rowe Price, Tether Investments, Troluce Capital, Virtu Financial, and XTX Markets.

What the money is for

Tenstorrent says the equity raise will fund volume manufacturing and global commercial expansion. Specifically, it plans to deploy its Galaxy servers at scale, keep serving open-weight models across LLMs and video generation, and advance the AI and CPU intellectual property it licenses to companies designing their own silicon.

“We built one architecture and sell it at every size,” Keller said in the announcement. “The future of compute is open, scalable, and owned by the people building on it.”

A RISC-V bet

Tenstorrent builds RISC-V-based AI processors and systems. RISC-V is an open instruction-set standard, which lets companies design processors without licensing a proprietary architecture. Beyond its own cards, workstations, racks, and clusters, Tenstorrent licenses its TT-Ascalon RISC-V CPU and Tensix AI cores to chip designers including Samsung and LG, and it ships an open-source software stack.

Keller, Tenstorrent’s CEO, was an architect of Apple’s A4 and A5 chips, AMD’s Zen, and Tesla’s Full Self-Driving chip.

How fast the valuation grew

In December 2024, Tenstorrent closed over $693 million in a Series D at a $2 billion pre-money valuation, led by Samsung Securities and AFW Partners. That works out to roughly $2.7 billion after the money came in, so the new $6.2 billion mark is more than double in under two years.