Jim Keller’s chip company Tenstorrent raises a $1.5 billion Series E at a $6.2 billion valuation

AI chip company Tenstorrent said on October 19 that it had closed a $1.5 billion Series E at a $6.2 billion post-money valuation. Trace Capital and Innovation X led the round. Participants included ARK Invest, Fidelity, Morgan Stanley, Sandisk, Tether Investments, Virtu Financial and XTX Markets. In its Series D in December 2024, the company raised more than $693 million at a $2 billion pre-money valuation.

CEO Jim Keller was previously the architect behind Apple’s A4 and A5, AMD’s Zen and Tesla’s Full Self-Driving chip. Tenstorrent builds RISC-V-based AI processors and systems, selling everything from a single card or workstation to racks and superclusters, with an open-source software stack. It also licenses its TT-Ascalon RISC-V CPU and Tensix AI cores to chip designers including Samsung and LG. The company says it will use the money to deploy Galaxy servers at scale, keep serving open-weight language and video generation models, and advance the IP it licenses. “We built one architecture and sell it at every size,” Keller said.