Tenstorrent Raises $1.5B to Challenge Nvidia

AI hardware startup Tenstorrent has raised $1.5 billion in a Series E round led by Trace Capital and Innovation X, valuing the company at $6.2 billion. Led by semiconductor veteran Jim Keller, the Toronto-based firm sells a full AI compute portfolio including Galaxy servers, TT-QuietBox workstations, and Blackhole cards, all powered by RISC-V-based chips. Its open-source software stack supports model compilation and optimization. Funds will expand Galaxy server production, advance RISC-V research, and grow its global workforce as Tenstorrent positions itself as a direct alternative to Nvidia.