Deeptech
The funding round was co-led by Trace Capital and Innovation X, with participation from Agostinelli Group, SanDisk, Tether Investments, T. Rowe Price Group and Cadence Ventures. Existing investors Ark Invest and Fidelity also participated.
Founded in 2016, Tenstorrent develops AI processors, computing systems and software designed to deliver efficient performance and provide alternatives to established chipmakers such as Nvidia and AMD.
CEO Jim Keller told Bloomberg that a May demonstration of the company’s Galaxy servers running advanced DeepSeek AI models marked a turning point in attracting investors. The company reportedly considered potential acquisition discussions with Intel, Qualcomm and other industry players before choosing to raise capital independently.
With approximately 1,150 employees, Tenstorrent plans to pursue organic growth, expand customer relationships and compete through flexible hardware and software solutions.
