Compiled from reports by Unite.AI and TNGlobal. See the original articles linked below.
Tenstorrent, a company that designs chips for artificial intelligence, has completed a $1.5 billion Series E financing round. Unite.AI reported on October 19, 2026 that the round values the company at $6.2 billion on a post-money basis, meaning the figure includes the new capital.
Who invested
According to Unite.AI, Trace Capital and Innovation X led the round. The outlet listed Fidelity, ARK Invest, Morgan Stanley, Sandisk, T. Rowe Price, Tether Investments and XTX Markets among other participants.
TNGlobal, which published its report on October 20, named a partly different group of backers: Fidelity, Valor Equity Partners, Hyundai Motor Group, Samsung Securities, LG Electronics and Bezos Expeditions. Both outlets described the lists as examples rather than a complete roster of investors.
What the money is for
Unite.AI said the proceeds will support volume manufacturing and global commercial expansion. The funds are also intended for deploying Tenstorrent's Galaxy servers at scale, serving open-weight AI models, and advancing the AI and CPU technology that the company licenses to other chip designers.
TNGlobal gave a similar account, adding that the company plans to widen its manufacturing capacity. It also reported that Tenstorrent did not disclose revenue, shipment volumes or a timeline for putting the capital to use.
The company and its business
TNGlobal described Tenstorrent as a Toronto-founded company that builds AI accelerators and processors based on the RISC-V architecture. It sells complete systems and also licenses its processor designs to customers who want to build them into their own products. Unite.AI said the company sells computing at every level, from single cards to racks and superclusters, along with custom intellectual property. It named the TT-Ascalon CPU and Tensix AI cores as licensed technology, with Samsung and LG among the licensees.
Unite.AI quoted chief executive Jim Keller as saying the company sells one architecture at every size. In the outlet's account, he said the future of compute would be open, scalable and owned by the people building on it.
Earlier funding and valuation
Unite.AI reported that the previous round, a Series D that closed in December 2024, raised more than $693 million at a $2 billion pre-money valuation. It was led by Samsung Securities and AFW Partners. TNGlobal, citing Reuters, wrote that the new round more than doubled the valuation set in that December 2024 financing.
Asia connections
TNGlobal noted that Hyundai, Samsung and LG are investors in Tenstorrent, and that Samsung and LG are also licensees. It connected this to a 2023 round of $100 million co-led by Hyundai and Samsung. The outlet also said the company has teams in Tokyo and Bangalore.
TNGlobal further observed that Tenstorrent operates in a capital-intensive and highly competitive market. In its assessment, the company's results will depend on converting investor and licensing relationships into large deployments, scaling up Galaxy production and building a software ecosystem around its hardware.
Unite.AI and TNGlobal agree on the headline figures of $1.5 billion raised and a $6.2 billion post-money valuation, and on Trace Capital and Innovation X as the lead investors.
Sources
- Tenstorrent Raises $1.5B Series E at $6.2B Valuation to Scale AI Compute (Unite.AI, 2026-10-19)
- Tenstorrent raises $1.5B Series E at $6.2B valuation (TNGlobal, 2026-10-20)
This article was compiled with AI assistance from the reports listed above and reviewed by GMA before publishing.