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San Jose

Santa Clara AI chipmaker Tenstorrent valued at $6.2 billion after funding round

Tenstorrent plans to expand manufacturing and commercial reach following significant equity investment.

Oct 19, 2026, 11:20 AM By the Genius Eye newsroom (City Reporter) · Fact-checkedHow we report
Photo: Terry Lucas / CC BY 3.0, via Wikimedia Commons

Tenstorrent, an AI chipmaker based in Santa Clara, California, has reached a valuation of $6.2 billion after a recent funding round, finchannel.com reported. The equity raise involved investors such as ARK Invest, Fidelity Management & Research Company, and Morgan Stanley among others.

The company intends to use the new capital to support volume manufacturing and international commercial expansion. It also plans to further develop its AI and central-processing-unit intellectual property, which it licenses to customers designing their own chips, according to finchannel.com.

Tenstorrent is led by chip architect Jim Keller, known for his previous work with Tesla, Apple, and Advanced Micro Devices. The company aims to scale production of its Galaxy AI chips for applications like chatbots, coding assistants, and video generation, Reuters noted.

Earlier in 2024, Tenstorrent announced a $693 million Series D financing round with a $2 billion pre-money valuation. The new $6.2 billion figure reflects the post-money valuation following the latest equity investment. The prior funding was intended to expand open-source AI software, recruit developers, and build systems for AI developers, finchannel.com reported.

The company operates two main business lines: selling AI computers built around its Tensix cores and licensing AI and RISC-V designs to customers seeking customized silicon. Hardware supported by the new funding was already on the market earlier this year, according to finchannel.com.

Sources
  1. finchannel.com: Tenstorrent funding round values AI chipmaker at $6 . 2 billion
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