Bloomberg reported on 19 October 2026 that Tenstorrent had raised $1.5 billion in a Series E round valuing the AI chip company at $6.2 billion. Trace Capital led the financing alongside Innovation X.
Trace Capital was started in 2026 by Ben Mahdavi, a co-founder of Quiet Capital. Tenstorrent had attracted takeover interest earlier in the year.
Tracxn lists a $1.29 billion Series E round dated 26 August 2026. Tracxn lists Tenstorrent’s earlier Series D financing at $693 million in December 2024, with a $2.6 billion valuation. Samsung Securities and AFW Partners were listed as lead investors in that round.
Tenstorrent says its chips are more efficient at running certain AI workloads, Bloomberg reported.
