Tenstorrent raises $1.5 billion at a $6.2 billion valuation

Proof that Galaxy, its server line, could handle DeepSeek’s models is what settled the choice to stay independent and raise money, Keller told Bloomberg, as TechCrunch reports. Five months ago, TechCrunch adds, Intel and Qualcomm were reported to be interested in buying it for up to $5 billion. The new valuation is more than twice the $2.6 billion of its late 2024 round.

Tenstorrent says most of the new cash will pay for Galaxy servers in large numbers, built for open-weight models, meaning AI models whose files anyone can download, that write text or generate video. It also licenses its RISC-V processor cores and its AI cores to firms that make their own silicon, such as LG and Samsung.

For buyers of AI video and text tools, every chip maker that can serve open models at scale adds a supplier to a market Nvidia still leads.