Startups & IPOs
Tenstorrent raises $1.5 billion to take on Nvidia
The AI chipmaker's Series E values it at $6.2 billion.
US AI chip startup Tenstorrent closed a $1.5 billion Series E at a $6.2 billion valuation, by far the largest round announced on Monday. Backers include ARK Invest, Fidelity and Morgan Stanley.
Investors keep betting that alternatives to Nvidia's GPUs can win share as AI computing costs climb. Elsewhere, Swiss biotech Nouscom raised €120 million for a cancer-prevention immunotherapy.
Why it mattersBig money keeps flowing to Nvidia challengers. If chip costs fall, AI products get cheaper for everyone, including Indian startups that rent computing power.
Sources
Written with AI assistance by TotalMarket. Based on the sources linked in this article; key facts and data should be checked against the original sources. This article is for information only and is not investment advice.
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