Add as a preferred source on GoogleTether Capital Joins Tenstorrent's $1.5 Billion AI Funding Round
The completed Series E round valued Tenstorrent at $6.2 billion. The chipmaker plans to expand server deployment and chip development.
Tether Capital, Tether's investment arm, joined AI chipmaker Tenstorrent's $1.5 billion funding round, backing an expansion of the servers and chip designs used to run artificial intelligence systems.
Tenstorrent closed the Series E round at a $6.2 billion post-money valuation. Trace Capital and Innovation X led the financing. Tenstorrent announced the completed round Oct. 19, and Tether Capital confirmed its participation Oct. 20.
Tenstorrent plans to use the funding to deploy more Galaxy servers, develop AI and CPU designs that it licenses to chipmakers, and expand its commercial operations globally. Its hardware ranges from individual computing cards and workstations to large server systems.
The company also offers open-source software that lets developers run AI models locally and businesses deploy them on their own infrastructure.
Tether issues a dollar-pegged stablecoin and is developing QVAC, software designed to run AI directly on users' devices. The Tenstorrent investment extends Tether's AI efforts to the hardware that supports computing.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.