Tether Joins Tenstorrent’s $1.5 Billion Series E Funding Round
Summary
- Tether Investments participated in AI chip company Tenstorrent’s $1.5 billion Series E funding round.
- The deal valued Tenstorrent at $6.2 billion after the investment, and Trace Capital and Innovation X led the round.
- Tenstorrent said it plans to use the proceeds for a large-scale deployment of Galaxy servers, expanded support for large language models (LLMs) and open-weight models for video generation, and a broader AI- and CPU-related intellectual property (IP) business.
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AI chip company Tenstorrent has completed a $1.5 billion Series E funding round, with Tether Investments among the participants.
BlockBeats reported on Oct. 19 that the round valued Tenstorrent at $6.2 billion after the investment.
The financing was led by Trace Capital and Innovation X. Participants also included Tether Investments, ARK Invest, Fidelity Management & Research, Morgan Stanley, SanDisk, T. Rowe Price, Virtu Financial and XTX Markets.
Tenstorrent plans to use the proceeds for a large-scale deployment of Galaxy servers and to expand support for large language models and open-weight models for video generation.
The company also plans to expand its business providing AI- and central processing unit, or CPU,-related intellectual property to customers that design their own chips.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.