Tether Invests $1.5 Billion in Tenstorrent’s E-Round at a $6.2 Billion Valuation

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Tether Investments participated in a $1.5 billion Series E round for AI computing firm Tenstorrent on October 19, pushing its valuation to $6.2 billion. Trace Capital and Innovation X led the round, with Fidelity, Morgan Stanley, and others also investing. The funds will scale Galaxy servers and expand AI and CPU IP licensing for open-weight models in LLMs and video generation. This move underscores the convergence of blockchain innovation and AI + crypto developments as traditional and digital finance continue to merge.
ME AI News, on October 19, AI computing company Tenstorrent completed a $1.5 billion Series E funding round, bringing its post-money valuation to $6.2 billion. The round was led by Trace Capital and Innovation X, with participation from both new and existing investors, including Agostinelli Group, ARK Invest, Brett Barna, Cadence Ventures, Eclipse, Fidelity Management & Research Company, Maverick Silicon, Morgan Stanley, Protagonist, SanDisk, T. Rowe Price*, Tether Investments, Troluce Capital, Virtu Financial, and XTX Markets. Tenstorrent will use the funds to deploy Galaxy servers at scale, continuing to serve open-weight models in large language models (LLMs) and video generation, while advancing its business of licensing AI and CPU IP to customers designing their own chips. (Source: MLion)
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