Tenstorrent hits $6.2B valuation to scale open-weight AI chips

What changed

Tenstorrent, a chip startup focused on inference, has raised $1.5 billion at a $6.2 billion valuation. The round comes five months after the 10-year-old Nvidia challenger reportedly received acquisition interest from Intel and Qualcomm at valuations of as much as $5 billion. The fresh round, which more than doubled Tenstorrent’s valuation from the $2.6 billion it fetched in late 2024, was led by Trace Capital, a new firm launched by Quiet Capital co-founder Ben Mahdavi, and Innovation X.

Why it matters

A concrete addition to Practical AI: Tools, Models & Frameworks: it changes what's available to builders today rather than being general commentary.

How it compares

Related prior coverage to compare against:

• AI chip startup Etched defies skeptics, hits $10.3B valuation from big-name investors
• Base Labs launches an open-weight AI safety partnership with Hugging Face and Goodfire
• Open-weight AI companies are the Valley’s hottest acquisition targets

• AI chip startup Etched defies skeptics, hits $10.3B valuation from big-name investors similarity 0.14
• Base Labs launches an open-weight AI safety partnership with Hugging Face and Goodfire similarity 0.13
• Open-weight AI companies are the Valley’s hottest acquisition targets similarity 0.13