Tenstorrent secures $1.5B in funding round

AI chip design company Tenstorrent has completed a $1.5 billion Series E funding round, bringing its post-money valuation to $6.2 billion. The round was co-led by Trace Capital and Innovation X, with participation from Tether Investments.

Tenstorrent plans to utilize the capital for the mass production and deployment of its Galaxy servers, the development of AI and CPU technologies, and global business expansion. The company noted that Samsung and LG are among the customers utilizing its proprietary chip design technology.

In a separate development, the online business platform Whop secured $200 million in a Series D funding round led by Sequoia and Shopify Ventures. Whop intends to use the funds for global expansion and research and development.