Tenstorrent hits $6.2B valuation to scale open-weight AI chips

Key points

• Tenstorrent, a chip startup focused on AI inference, has raised $1.5 billion at a $6.2 billion valuation. The round more than doubled the $2.6 billion valuation it received in late 2024.
• Trace Capital and Innovation X led the round, with other backers including Fidelity and T. Rowe Price.
• CEO Jim Keller said the company chose to stay independent after its Galaxy servers ran DeepSeek models. The funds will go toward chips for serving open-weight AI models and video generation.