AI Chip Startup Tenstorrent Seeks New Funding Round

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AI Chip Startup Tenstorrent Seeks New Funding Round

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Tenstorrent, an AI chip startup, is reportedly in talks to secure a new funding round of at least $800 million. This investment could push the Toronto-founded company’s valuation to around $3.2 billion before the new funds are added. Fidelity Management, an existing investor, is said to be leading these discussions.

The company, which designs and licenses computer-chip technology and full hardware systems for AI workloads, previously closed a Series D funding round in December 2024, raising over $693 million. That round, led by Samsung Securities and AFW Partners, valued Tenstorrent at $2 billion pre-money, and $2.7 billion post-money. Notable investors in the Series D round included XTX Markets, LG Electronics, Hyundai Motor Group, and Bezos Expeditions.

Tenstorrent, founded in 2016 by Ljubisa Bajic, Ivan Hamer, and Milos Trajkovic, specializes in developing hardware and open-source software for AI acceleration. The company’s focus is on creating scalable solutions for machine learning, from IoT devices to large cloud servers. Tenstorrent has raised a total of $1.18 billion across 10 funding rounds to date. Jim Keller, a well-known microprocessor engineer, serves as the CEO of Tenstorrent. The company has offices in various global locations including Toronto, Austin,

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