Tether Investments Backs Tenstorrent's $1.5 Billion AI Chip Round

Tenstorrent plans to use its new $1.5 billion financing to expand chip manufacturing and deploy Galaxy servers globally. Tether Investments was among the investors. The round valued Tenstorrent at $6.2 billion after the investment. Trace Capital and Innovation X led the financing, announced Oct. 19. Other participants included ARK Invest, Morgan Stanley, Sandisk and Fidelity Management & Research Company. Tenstorrent plans to use the money to increase manufacturing capacity and expand its commercial operations globally. It also intends to deploy more Galaxy servers and advance the AI and CPU intellectual property it licenses to customers designing their own chips. The Galaxy servers support open-weight language models and video-generation workloads. A Galaxy Blackhole server contains 32 Blackhole chips and starts at $110,000.

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