Tenstorrent raises $1.5B, hits $6.2B valuation as Nvidia alternative

Tenstorrent, an AI chip maker positioning itself as a competitor to Nvidia, has raised $1.5 billion in new funding at a $6.2 billion valuation. The round allows the company to remain independent after drawing acquisition offers earlier in the year. Tenstorrent is focused on developing open-weight AI chips designed to give companies alternatives to Nvidia's dominant GPU ecosystem.