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Tenstorrent valuation, funding and investors

tenstorrent.com ↗LinkedIn ↗

Tenstorrent works in AI compute hardware manufacturing, based in Santa Clara, United States. Founded in 2016, it has about 1,280 employees.

Series E
VALUATION · TODAY
$6.22B +30% after Series E
Range $5.39B – $9.27B · Grade A
TODAY
+12 MO
$2.50B
$5.00B
$7.50B
$10.00B
$12.50B
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
Series A $0.50M
Series B $20.5M
Growth $200M
Series C $100M
Series D $693M
Series E $1.50B
ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then
HEADCOUNT · TODAY1,280 employees
+11%6m growth
+26%1y growth
+161%2y growth
500
1,000
1,500
Data from Jan 2021
TODAY
Predicted in 1 yr $8.06B +30% vs today
Predicted next raise $887M if a round comes
Winding-down probability 0%
Last round
Series E · $1.50B · Oct 2026
Valuation at last round
$6.20B
Headcount
1,280 · growing
Grade
A
Founded
2016
How VCMC values companies →

Tenstorrent valuation today

VCMC values Tenstorrent at $6.2B today, with a range of $5.4B to $9.3B and a grade of A. The valuation starts from its last funding round, a Series E round in Oct 2026.

Valuation by date (137 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

Tenstorrent: valuation by date, as the model would have shown it on each date
DateValuationRangePredicted in 1 yrPhaseHeadcountTrendGradeWinding-down probability
1 Jan 2016$5.86M$2.13M – $16.1M$7.03M (+20%)before first round–unknownD0%
1 Feb 2016$5.88M$2.14M – $16.2M$7.22M (+23%)before first round–unknownD0%
1 Mar 2016$5.91M$2.15M – $16.2M$7.40M (+25%)before first round–unknownD0%
1 Apr 2016$5.93M$2.16M – $16.3M$7.60M (+28%)before first round–unknownD0%
1 May 2016$5.95M$2.17M – $16.4M$7.80M (+31%)before first round–unknownD0%
1 Jun 2016$5.98M$2.18M – $16.4M$8.01M (+34%)before first round–unknownD0%
1 Jul 2016$6.00M$2.18M – $16.5M$8.22M (+37%)before first round–unknownD0%
1 Aug 2016$6.16M$2.24M – $16.9M$8.44M (+37%)before first round–unknownD0%
1 Sep 2016$6.33M$2.30M – $17.4M$8.67M (+37%)before first round–unknownD0%
1 Oct 2016$6.49M$2.36M – $17.8M$8.90M (+37%)before first round–unknownD0%
1 Nov 2016$6.67M$2.43M – $18.3M$9.14M (+37%)before first round–unknownD0%
1 Dec 2016$6.84M$2.49M – $18.8M$9.38M (+37%)before first round–unknownD0%
1 Jan 2017$7.03M$2.56M – $19.3M$9.63M (+37%)before first round–unknownD0%
1 Feb 2017$7.22M$2.63M – $19.8M$9.89M (+37%)before first round–unknownD0%
1 Mar 2017$7.39M$2.69M – $20.3M$10.1M (+37%)before first round–unknownD0%
1 Apr 2017$7.59M$2.76M – $20.9M$10.4M (+37%)before first round–unknownD0%
1 May 2017$7.79M$2.84M – $21.4M$10.7M (+37%)before first round–unknownD0%
1 Jun 2017$8.00M$2.91M – $22.0M$11.0M (+37%)before first round–unknownD0%
1 Jul 2017$8.21M$2.99M – $22.6M$11.3M (+37%)before first round–unknownD0%
1 Aug 2017$8.44M$3.07M – $23.2M$11.6M (+37%)before first round–unknownD0%
1 Sep 2017$8.67M$3.15M – $23.8M$11.9M (+37%)before first round–unknownD0%
1 Oct 2017$8.89M$3.24M – $24.4M$12.2M (+37%)before first round–unknownD0%
1 Nov 2017$9.14M$3.33M – $25.1M$12.5M (+37%)before first round–unknownD0%
1 Dec 2017$9.37M$3.41M – $25.8M$12.9M (+37%)before first round–unknownD0%
1 Jan 2018$9.63M$3.51M – $26.5M$13.2M (+37%)before first round–unknownD0%
1 Feb 2018$9.89M$3.60M – $27.2M$13.6M (+37%)before first round–unknownD0%
9 Feb 2018$2.78M$1.83M – $7.61M$5.00M (+80%)after a round–unknownC0%
1 Mar 2018$2.87M$1.83M – $7.61M$5.00M (+74%)after a round–unknownC0%
1 Apr 2018$3.02M$1.83M – $7.61M$5.00M (+66%)after a round–unknownC0%
1 May 2018$3.17M$1.83M – $7.61M$5.00M (+58%)after a round–unknownC0%
1 Jun 2018$3.33M$1.83M – $7.61M$5.00M (+50%)after a round–unknownC0%
1 Jul 2018$3.50M$1.83M – $7.61M$5.00M (+43%)after a round–unknownC0%
1 Aug 2018$3.68M$1.83M – $7.61M$5.00M (+36%)after a round–unknownC0%
1 Sep 2018$3.86M$1.83M – $7.61M$5.00M (+29%)after a round–unknownC0%
1 Oct 2018$4.05M$1.83M – $7.61M$5.00M (+23%)after a round–unknownC0%
1 Nov 2018$4.26M$1.83M – $7.61M$5.00M (+17%)after a round–unknownC0%
1 Dec 2018$4.47M$1.83M – $7.61M$5.00M (+12%)after a round–unknownC0%
1 Jan 2019$4.70M$1.83M – $7.61M$5.00M (+6%)after a round–unknownC0%
24 Jan 2019$46.4M$32.6M – $98.6M$69.5M (+50%)after a round–unknownB0%
1 Feb 2019$46.8M$32.6M – $98.6M$69.5M (+49%)after a round–unknownB0%
1 Mar 2019$48.3M$32.6M – $98.6M$69.5M (+44%)after a round–unknownB0%
1 Apr 2019$50.0M$32.6M – $98.6M$69.5M (+39%)after a round–unknownB0%
1 May 2019$51.7M$32.6M – $98.6M$69.5M (+35%)after a round–unknownB0%
1 Jun 2019$53.5M$32.6M – $98.6M$69.5M (+30%)after a round–unknownB0%
1 Jul 2019$55.3M$32.6M – $98.6M$69.5M (+26%)after a round–unknownB0%
1 Aug 2019$57.2M$32.6M – $98.6M$69.5M (+21%)after a round–unknownB0%
1 Sep 2019$59.2M$32.6M – $98.6M$69.5M (+17%)after a round–unknownB0%
1 Oct 2019$61.2M$32.6M – $98.6M$69.5M (+14%)after a round–unknownB0%
1 Nov 2019$63.4M$32.6M – $98.6M$69.5M (+10%)after a round–unknownB0%
1 Dec 2019$65.5M$32.6M – $98.6M$69.5M (+6%)after a round–unknownB0%
1 Jan 2020$67.8M$32.6M – $98.6M$69.5M (+3%)after a round–unknownB0%
1 Feb 2020$69.5M$32.2M – $98.6M$69.5M (0%)after a round–unknownB0%
1 Mar 2020$69.5M$30.9M – $98.6M$69.5M (0%)after a round–unknownB0%
1 Apr 2020$69.5M$29.6M – $98.6M$69.5M (0%)after a round–unknownC0%
1 May 2020$69.5M$28.4M – $98.6M$69.5M (0%)after a round–unknownC0%
1 Jun 2020$69.5M$27.1M – $98.6M$69.5M (0%)after a round–unknownC0%
1 Jul 2020$69.5M$26.0M – $98.6M$69.5M (0%)after a round–unknownC0%
1 Aug 2020$69.5M$24.9M – $98.6M$69.5M (0%)after a round–unknownC0%
1 Sep 2020$69.5M$23.8M – $98.6M$69.5M (0%)after a round–unknownC0%
1 Oct 2020$69.5M$22.8M – $98.6M$69.5M (0%)after a round–unknownC0%
1 Nov 2020$69.5M$21.8M – $98.6M$69.5M (0%)after a round–unknownC0%
1 Dec 2020$69.5M$20.9M – $98.6M$69.5M (0%)after a round–unknownC0%
1 Jan 2021$69.5M$20.0M – $98.6M$69.5M (0%)after a round53unknownC0%
1 Feb 2021$69.5M$17.6M – $98.6M$69.5M (0%)after a round53unknownC0%
1 Mar 2021$69.5M$16.8M – $98.6M$69.5M (0%)after a round53unknownC0%
1 Apr 2021$69.5M$16.0M – $98.6M$68.2M (-2%)after a round53flatC0%
1 May 2021$69.5M$15.2M – $98.6M$67.6M (-3%)after a round53flatC0%
21 May 2021$1.0B$869M – $1.3B$1.1B (+10%)after a round53flatA0%
1 Jun 2021$1.0B$869M – $1.3B$1.1B (+10%)after a round53flatA0%
1 Jul 2021$1.0B$869M – $1.3B$1.1B (+9%)after a round53flatA0%
1 Aug 2021$1.0B$869M – $1.3B$1.1B (+8%)after a round53flatA0%
1 Sep 2021$1.0B$869M – $1.3B$1.1B (+7%)after a round53flatA0%
1 Oct 2021$1.0B$869M – $1.3B$1.1B (+6%)after a round53flatA0%
1 Nov 2021$1.0B$869M – $1.3B$1.1B (+5%)after a round53flatA0%
1 Dec 2021$1.1B$869M – $1.3B$1.1B (+5%)after a round53flatA0%
1 Jan 2022$1.1B$869M – $1.3B$1.1B (+4%)after a round53flatA0%
1 Feb 2022$1.1B$869M – $1.3B$1.1B (+3%)after a round53flatA0%
1 Mar 2022$1.1B$869M – $1.3B$1.1B (+2%)after a round53flatA0%
1 Apr 2022$1.1B$869M – $1.3B$1.1B (+1%)after a round53flatA0%
1 May 2022$1.1B$869M – $1.3B$1.1B (+1%)after a round53flatA0%
1 Jun 2022$1.1B$853M – $1.3B$1.1B (0%)after a round53flatA0%
1 Jul 2022$1.1B$812M – $1.3B$1.1B (0%)after a round53flatA0%
1 Aug 2022$1.1B$771M – $1.3B$1.1B (0%)after a round53unknownA0%
1 Sep 2022$1.1B$733M – $1.3B$1.1B (0%)after a round53unknownA0%
1 Oct 2022$1.1B$698M – $1.3B$1.1B (0%)after a round53unknownA0%
1 Nov 2022$1.5B$760M – $1.7B$1.5B (0%)after a round210unknownB0%
1 Dec 2022$1.5B$742M – $1.7B$1.5B (0%)after a round210unknownB0%
1 Jan 2023$1.5B$724M – $1.7B$1.5B (0%)after a round210unknownB0%
1 Feb 2023$1.5B$706M – $1.7B$1.5B (0%)after a round210unknownB0%
1 Mar 2023$1.5B$690M – $1.7B$1.5B (0%)after a round210unknownB0%
1 Apr 2023$1.5B$672M – $1.7B$1.5B (0%)after a round210unknownB0%
1 May 2023$1.5B$656M – $1.7B$1.5B (0%)after a round210unknownB0%
1 Jun 2023$1.5B$634M – $1.7B$1.5B (0%)after a round210unknownB0%
1 Jul 2023$1.5B$603M – $1.7B$1.5B (0%)after a round210unknownB0%
1 Aug 2023$1.5B$573M – $1.7B$1.5B (0%)after a round210unknownB0%
3 Aug 2023$910M$597M – $1.8B$1.2B (+30%)after a round210unknownB0%
1 Sep 2023$929M$597M – $1.8B$1.2B (+27%)after a round210unknownB0%
1 Oct 2023$949M$597M – $1.8B$1.2B (+25%)after a round210unknownB0%
1 Nov 2023$971M$597M – $1.8B$1.2B (+22%)after a round210unknownB0%
1 Dec 2023$992M$597M – $1.8B$1.2B (+19%)after a round210unknownB0%
1 Jan 2024$1.0B$597M – $1.8B$1.2B (+17%)after a round210unknownB0%
1 Feb 2024$1.0B$597M – $1.8B$1.2B (+14%)after a round390growingB0%
1 Mar 2024$1.1B$597M – $1.8B$1.2B (+12%)after a round410growingB0%
1 Apr 2024$1.1B$597M – $1.8B$1.2B (+9%)after a round410growingB0%
1 May 2024$1.1B$597M – $1.8B$1.2B (+7%)after a round410growingB0%
1 Jun 2024$1.1B$597M – $1.8B$1.2B (+4%)after a round410flatB0%
1 Jul 2024$1.2B$597M – $1.8B$1.2B (+2%)after a round410flatB0%
1 Aug 2024$1.2B$597M – $1.8B$1.2B (0%)after a round490upB0%
1 Sep 2024$1.2B$591M – $1.8B$1.2B (0%)after a round490upB0%
1 Oct 2024$1.2B$584M – $1.8B$1.2B (0%)after a round490upB0%
1 Nov 2024$1.2B$607M – $1.8B$1.2B (0%)after a round560growingB0%
1 Dec 2024$1.2B$611M – $1.8B$1.2B (0%)after a round560growingB0%
3 Dec 2024$2.7B$2.3B – $4.0B$3.5B (+30%)after a round560growingA0%
1 Jan 2025$2.8B$2.3B – $4.0B$3.5B (+27%)after a round560growingA0%
1 Feb 2025$2.8B$2.3B – $4.0B$3.5B (+24%)after a round560growingA0%
1 Mar 2025$2.9B$2.3B – $4.0B$3.5B (+22%)after a round560growingA0%
1 Apr 2025$2.9B$2.3B – $4.0B$3.5B (+19%)after a round560growingA0%
1 May 2025$3.0B$2.3B – $4.0B$3.5B (+17%)after a round560growingA0%
1 Jun 2025$3.1B$2.3B – $4.0B$3.5B (+14%)after a round560growingA0%
1 Jul 2025$3.3B$2.3B – $4.5B$3.9B (+17%)after a round911growingB0%
1 Aug 2025$3.5B$2.3B – $4.5B$3.9B (+14%)after a round957growingB0%
1 Sep 2025$3.6B$2.3B – $4.5B$3.9B (+10%)after a round957growingB0%
1 Oct 2025$3.7B$2.3B – $4.6B$4.0B (+7%)after a round1,017growingB0%
1 Nov 2025$3.9B$2.3B – $4.6B$4.0B (+3%)after a round1,017growingB0%
1 Dec 2025$4.0B$2.3B – $4.6B$4.0B (0%)after a round1,017growingB0%
1 Jan 2026$4.0B$2.4B – $4.6B$4.0B (0%)after a round1,017growingB0%
1 Feb 2026$4.0B$2.4B – $4.6B$4.0B (0%)after a round1,017growingB0%
1 Mar 2026$4.0B$2.5B – $4.6B$4.0B (0%)after a round1,017growingB0%
1 Apr 2026$4.1B$2.5B – $4.7B$4.1B (0%)after a round1,157growingB0%
1 May 2026$4.2B$2.6B – $4.8B$4.2B (0%)after a round1,208growingB0%
1 Jun 2026$4.2B$2.4B – $4.8B$4.2B (0%)after a round1,208upB0%
1 Jul 2026$4.2B$2.4B – $4.8B$4.2B (0%)after a round1,208upB0%
1 Aug 2026$4.2B$2.4B – $4.8B$4.2B (0%)after a round1,208upB0%
1 Sep 2026$4.2B$2.4B – $4.8B$4.2B (0%)after a round1,208upB0%
1 Oct 2026$4.2B$2.9B – $4.8B$4.2B (0%)after a round1,280growingA0%
20 Oct 2026$6.2B$5.4B – $9.3B$8.1B (+30%)after a round1,280growingA0%
24 Oct 2026$6.2B$5.4B – $9.3B$8.1B (+30%)after a round1,280growingA0%

Key facts about Tenstorrent

Founded
2016
Headquarters
Santa Clara, United States
Employees
about 1,280 +26% in a year
Total raised
$2.51B
Funding rounds
6
Last round
Series E Oct 2026

Tenstorrent was founded in 2016 by Ivan Hamer, Ljubisa Bajic and Milos Trajkovic.

Tenstorrent funding history

Tenstorrent has 6 funding rounds on record, from Feb 2018 to Oct 2026, $2.51B in total. The latest disclosed valuation is $6.20B post-money (Series E, Oct 2026).

  1. Series E 19 Oct 2026

    Led by Trace Capital, Innovation X; with Agostinelli Group, ARK Invest, Cadence Ventures, Eclipse, Fidelity Management & Research Company, Maverick Silicon, Morgan Stanley, Protagonist, Sandisk, T. Rowe Price, Tether Investments, Troluce Capital, Virtu Financial, XTX Markets. Individuals: Brett Barna.

    Sources: finsmes.com, tenstorrent.com, finance.yahoo.com

    $1.50B

    $6.20B post-money

  2. Series D 2 Dec 2024

    Led by Samsung Securities, AFW Partners; with Bezos Expeditions, Fidelity Management & Research Company, Hyundai Motor Group, LG Electronics, XTX Markets, Corner Capital, MESH, Export Development Canada, Healthcare of Ontario Pension Plan, Baillie Gifford, Protagonist, Innovation Engine, Georgian, Fidelity.

    Sources: blumbergcapital.com, tenstorrent.com, hpcwire.com and 3 more

    $693M

    $2.70B post-money

  3. Series C 2 Aug 2023

    Led by Hyundai Motor Group, Samsung Catalyst Fund; with Fidelity Ventures, Eclipse, Epiq Capital, Maverick Capital, Samsung Venture Investment.

    Sources: tenstorrent.com, electronicsweekly.com

    $100M

  4. Growth Equity 20 May 2021

    Led by Fidelity Management and Research Company; with Eclipse, Epic CG, Moore Capital, Real Ventures, KG Investments, Menlo Ventures, Norwest.

    Sources: tenstorrent.com, prnewswire.com

    $200M

    $1.00B post-money

  5. Series B 23 Jan 2019

    Led by EPIQ Capital Group; with Eclipse, Real Ventures, Menlo Ventures, Norwest.

    $21M

  6. Series A 8 Feb 2018

    Investors not disclosed.

    $500K

Tenstorrent investors

42 investors have backed Tenstorrent; Hyundai Motor Group, AFW Partners and EPIQ Capital Group and 5 more led at least one round.

  • Hyundai Motor Group lead, 2 rounds
  • EPIQ Capital Group lead
  • Fidelity Management and Research Company lead
  • Innovation X lead
  • Samsung Securities lead
  • Eclipse 4 rounds
  • Fidelity Management & Research Company 2 rounds
  • Menlo Ventures 2 rounds
  • Norwest 2 rounds
  • XTX Markets 2 rounds
  • Agostinelli Group
  • ARK Invest
  • Baillie Gifford
  • Bezos Expeditions
  • Cadence Ventures
  • Corner Capital
  • Epic CG
  • Export Development Canada
  • Fidelity
  • Fidelity Ventures
  • Healthcare of Ontario Pension Plan
  • Innovation Engine
  • LG Electronics
  • Maverick Capital
  • Maverick Silicon
  • Moore Capital
  • Morgan Stanley
  • Samsung Venture Investment
  • Sandisk
  • T. Rowe Price
  • Tether Investments
  • Troluce Capital
  • Virtu Financial

What Tenstorrent does

Tenstorrent works in device manufacturing, with 15 recorded offerings and customers in artificial intelligence and enterprise computing.

Tenstorrent USA, Inc. is an American company engaged in the development of RISC-V based hardware accelerators for artificial intelligence and machine learning. The company also provides open-source AI software stacks and licenses AI and RISC-V intellectual property to customers who own and customize their silicon. Tenstorrent operates globally, with offices in Toronto, Austin, and Silicon Valley.

Description from Veridion's company data.

Products and services

  • AI Compute Hardware Manufacturing
  • AI Workstation Manufacturing
  • AI Server Manufacturing
  • PCIe AI Compute Board Manufacturing
  • AI Graph Processor Manufacturing
  • Open-Source AI Software Development
  • MLIR-Based Compiler Development
  • Neural Network Compiler Development
  • AI Hardware Architecture Design
  • ASIC Design and Integration
  • Flexible IP Architecture Development
  • Scalable AI Infrastructure Solutions
  • Developer Community Support Services
  • AI Hardware Research and Development
  • AI Software Tool Development

Markets

  • Artificial Intelligence
  • Enterprise Computing

Technology

  • AI Hardware Architectures
  • ASIC Design for AI Processing
  • RISC-V-Based CPU Design
  • Neural Network Compilers
  • Open-Source Software Stack for Hardware Access
  • Advanced Cooling Systems for AI Hardware

Business model

  • Business-to-Business
  • Manufacturing
  • Enterprise

Industry codes (NAICS)

  • 334111 Electronic Computer Manufacturing 75% match
  • 513210 Software Publishers 25% match

Questions about Tenstorrent

What is Tenstorrent worth?

Valuation $6.2B (range $5.4B to $9.3B), as of 24 Oct 2026. The last disclosed valuation was $6.20B (Series E, Oct 2026).

Has Tenstorrent raised money?

Tenstorrent has 6 funding rounds on record, from Feb 2018 to Oct 2026, $2.51B in total. The latest disclosed valuation is $6.20B post-money (Series E, Oct 2026).

Who has invested in Tenstorrent?

Hyundai Motor Group, AFW Partners, EPIQ Capital Group, Fidelity Management and Research Company, Innovation X and Samsung Catalyst Fund, and 36 more. Lead investors include Hyundai Motor Group, AFW Partners, EPIQ Capital Group and Fidelity Management and Research Company.

How many people work at Tenstorrent?

About 1,280, up 26% over the last year. Headcount grew from 53 in Jan 2021 to 1,280 in Sep 2026.

What does Tenstorrent do?

Tenstorrent works in device manufacturing, with 15 recorded offerings and customers in artificial intelligence and enterprise computing. Its main offerings are AI compute hardware manufacturing, AI workstation manufacturing and AI server manufacturing.

When was Tenstorrent founded, and where is it based?

Tenstorrent was founded in 2016 and is based in Santa Clara, United States. It has about 1,280 employees, up 26% over the last year.

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