Tenstorrent raises $1.5 billion at a $6.2 billion valuation

Tenstorrent, a chip startup positioning itself as a Nvidia challenger, raised $1.5 billion in a Series E round that values it at $6.2 billion.

The company had drawn acquisition interest earlier this year, and the new money is meant to keep it independent. The pitch centers on open-weight AI chips, a different bet from the closed stacks of the biggest players.

A round this size shows investors still want a credible alternative to Nvidia, even as Amazon and others push their own chips.

Our take

Independence at this price is a statement: investors think the alternative-chip market is big enough for more than one winner.