AI chip maker Tenstorrent has secured $1.5 billion in a new funding round led by Trace Capital and Innovation X, doubling its valuation to $6.2 billion.
The ten-year-old company will use the capital to scale inference chips tailored for open-weight AI models and video generation, following CEO Jim Keller's decision to remain independent.
The funding round was led by Trace Capital and Innovation X, with participation from Cadence Ventures, Eclipse, Fidelity, SanDisk and T. Rowe Price.
Why the company chose to remain independent
The new funding comes five months after Tenstorrent had accepted acquisition offers from Intel and Qualcomm, which were worth up to $5 billion.
The company's head, Jim Keller, said that Tenstorrent decided to go it alone after first proving that its systems could run DeepSeek artificial intelligence models.
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Where will the new funds be used?
This money will be used for the development and mass production of chips specifically designed for open artificial intelligence models and video creation.
Tenstorrent is celebrating its tenth anniversary, focuses on manufacturing chips that run artificial intelligence applications, and is one of Nvidia's main competitors in the related hardware market.
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