Innovation X, a late-stage venture capital firm investing in privately held technology leaders, today announced that it co-led Tenstorrent’s $1.5 billion Series E financing at a $6.2 billion post-money valuation.
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A close-up image of Tenstorrent Galaxy® systems in a data center.
The financing positions Tenstorrent to move its Galaxy AI server platform into high-volume production and to grow its customer base worldwide.
Why Innovation X Invested
Tenstorrent is one of the few AI compute companies that controls its full stack, from processor design to the open-source software developers use to run models. Customers can start with a single developer card and grow into superclusters, or license Tenstorrent’s CPU and AI core designs to build custom chips of their own.
That flexibility matters as AI demand spreads beyond the largest cloud providers. Chipmakers, national governments and inference providers increasingly want compute they control, and Tenstorrent gives them an open alternative to closed, single-vendor platforms.
“Jim Keller has a rare record of building processor architectures that changed the industry, at Apple, AMD and Tesla, and he has assembled a team that designs both the silicon and the software behind it,” said Roger Monteforte, Founder, Chairman and CEO of Innovation X. “Tenstorrent lets customers own their AI infrastructure at any size. We are proud to co-lead this round and to support the company as Galaxy moves into volume production.”
“We’re ramping Galaxy production and expanding globally, and the Innovation X team knows what it takes to scale,” said Jim Keller, CEO of Tenstorrent. “We’re glad to have them as co-leads for this round.”
About Tenstorrent
Tenstorrent builds RISC-V-based AI processors, servers and workstations for developers, enterprises and sovereign infrastructure, and licenses its TT-Ascalon CPU and Tensix AI core IP to chip designers including Samsung and LG. The company is led by CEO Jim Keller, whose prior work includes the Apple A4/A5, AMD Zen and Tesla Full Self-Driving chips. Tenstorrent has offices in Santa Clara, Austin, Toronto, Belgrade, Tokyo and Bangalore. tenstorrent.com
About Innovation X
Founded in 2016 by Roger Monteforte, Innovation X is a late-stage venture capital firm that invests in privately held companies with innovative or disruptive technologies across defense technology, fintech, artificial intelligence, infrastructure and the space economy. Innovation X Advisors has over $4.5 billion under management across multiple funds (as reported on Form ADV as of December 31, 2025).
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