Tenstorrent builds scalable AI accelerators targeting both cloud and edge deployments, competing directly with Nvidia GPUs. The company also develops RISC-V CPUs and licenses its chip designs to other organizations. Its Galaxy servers, which began shipping in April, pack 32 RISC-V Blackhole processors with Tensix AI cores and deliver 23 petaflops of FP8 compute performance.
Led by Trace Capital and Innovation X, with participation from ARK Invest, Cadence Ventures, Fidelity Management & Research Company, Maverick Silicon, Morgan Stanley, SanDisk, and T. Rowe Price, among others.
The $1.5 billion Series E more than doubles Tenstorrent's previous $2.6 billion valuation in just months, reflecting intensifying investor appetite for GPU alternatives at a time when Nvidia dominates AI compute. The round also signals broad institutional confidence, drawing in asset managers such as Fidelity and T. Rowe Price alongside strategic names like SanDisk and Morgan Stanley. With proceeds earmarked for manufacturing scale and new Galaxy server generations, Tenstorrent is positioning to become a credible volume supplier to data centers seeking diversified AI accelerator options.