Tenstorrent Raises $1.5B Series E at $6.2B Valuation, Pulling in Fidelity, ARK, Morgan Stanley

Jim Keller's Tenstorrent closed a $1.5B Series E led by Trace Capital and Innovation X at a $6.2B post-money valuation, more than doubling the $2.6B mark set after its $700M Series D in December 2024. New and returning backers include Fidelity, Morgan Stanley, ARK Invest, T. Rowe Price, Cadence Ventures, SanDisk, Tether Investments, Virtu Financial and XTX Markets. Proceeds will scale mass production of Galaxy servers — Tenstorrent's RISC-V-based large-model training and video-generation systems already deployed at Virtu Financial and Equinix — and expand global commercial reach.