Tenstorrent raises $1.5 billion, Crunchbase News says
Crunchbase News reports that Trace Capital and Innovation X led the Series E round, valuing the processor developer at $6.2 billion.
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Crunchbase News reports that Trace Capital and Innovation X led the Series E round, valuing the processor developer at $6.2 billion.
Tenstorrent secured $1.5 billion in Series E funding, according to Crunchbase News’s October 23 weekly funding-round feature. The publication ranked the financing as the largest announced round among US-based startups in its October 17–23 account.
Crunchbase News describes Tenstorrent as a 10-year-old company based in Santa Clara, California, that develops artificial intelligence (AI) processors and systems. Series E identifies the investment as a later-stage funding round.
Trace Capital and Innovation X led the round, which valued Tenstorrent at $6.2 billion, Crunchbase News reports. That valuation is the value assigned to the company in the financing, distinct from the $1.5 billion raised.
The reported Series E round values the Toronto-based company at $6.2 billion and is intended to fund more servers, processor research and hiring worldwide.
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