FundingFundingChips

Tenstorrent raises $1.5B Series E at $6.2B valuation to scale open-weight AI chips

TechgainAuthor

3 min read · 25 October 2026

Tenstorrent, the AI chip startup that rejected acquisition offers from Intel and Qualcomm, closed a $1.5 billion Series E led by Trace Capital Management — more than doubling its valuation to $6.2 billion as it scales open-weight AI chips to challenge Nvidia.

Summary

$1.5B Series E led by Trace Capital Management
Valuation jumps to $6.2B from ~$2.6B
Funds target AI servers, manufacturing and RISC-V licensing
Positioned as the open-weight challenger in AI inference

Sources (3)

techcrunch.com/2026/10/19/tenstorrent-hits-6-2b-valuation-to-scale-open-weight-ai-chips
finance.yahoo.com/technology/ai/articles/chipmaker-tenstorrent-raises-1-5-131144990.html
www.datacenterdynamics.com/en/news/ai-chip-startup-tenstorrent-raises-15bn-at-62bn-valuation

📰

This story is free — just sign in

Every Techgain newsletter is 100% free. Sign in with Google to keep reading — no password, no payment, ever.

Tenstorrent raises $1.5B Series E at $6.2B valuation to scale open-weight AI chips

This story is free — just sign in

More from Techgain

Cloudflare and Amazon ship open-weight decision models as open-source October gathers pace

Nvidia's $10B financing machine faces its first real stress test

Tesla and Nvidia pour $2.8B into Samsung substrate production as the AI supply chain bottlenecks