Tenstorrent raises $1.5 billion at $6.2 billion valuation to scale open-weight AI chips

Tenstorrent, a chip startup focused on AI inference, closed a $1.5 billion Series C round at a $6.2 billion valuation, more than doubling its previous valuation of $2.6 billion. The funding, led by Trace Capital and Innovation X, will be used to scale servers and chips tailored for serving open-weight AI models and video generation, following the company's demonstration that its Galaxy servers can run DeepSeek models.