The Toronto-founded chip designer is reportedly in talks to raise US$800 million led by current investor Fidelity Management that would put the company’s pre-deal valuation at US$3.2 billion. It was valued at US$2.7 billion after closing a US$693-million round last December. (The Information)
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The Toronto-founded chip designer is reportedly in talks to raise US$800 million led by current investor Fidelity Management that would put the company’s pre-deal valuation at US$3.2 billion. It was valued at US$2.7 billion after closing a US$693-million round last December. (The Information)
Talking point: The fundraise signals continued investor appetite for challengers to Nvidia, which dominates the AI chip market. Tenstorrent, which is now headquartered in Silicon Valley, designs and licenses computer-chip technology and full hardware systems built to run AI workloads more efficiently. The company, founded in 2016, has raised just over US$1 billion to date, according to PitchBook. A source told The Information it only started generating meaningful revenue this year, after landing customers in Japan. The firm disclosed in December that it had done around US$150 million worth of deals to that point.
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