Town, which develops enterprise AI assistants, raised a $108M Series B at a $1B valuation, after announcing a $55M Series A in June (Dominic-Madori Davis/TechCrunch)
Town, a two-year-old, San Francisco-based startup developing AI assistants, nabbed a unicorn valuation on Monday, announcing a $108 million Series B funding round co-led …
Tenstorrent, an artificial intelligence chip startup, has reached a $6.2 billion valuation following a $1.5 billion funding round. The increase in valuation, which more than doubled its previous valuation, was announced five months after the startup received acquisition interest from tech giants Intel and Qualcomm. The fresh round of funding, led by Trace Capital, a new firm established by Quiet Capital co-founder Ben Mahdavi, and Innovation X, saw backing from a range of investors including Cadence Ventures, Eclipse, Fidelity, SanDisk, and T. Rowe Price.
Tenstorrent's CEO, former microprocessor engineer Jim Keller, stated that the company opted to remain independent and seek additional capital due to the success of its Galaxy servers in running DeepSeek models. The newly secured capital will be allocated towards scaling chips designed for serving open-weight AI models and video generation.
Tenstorrent is one of numerous AI hardware startups attempting to challenge Nvidia's market dominance, with Etched, another AI chip maker, recently attracting investment offers with valuations exceeding $40 billion.
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