Tether Joins Tenstorrent Series E Round at $6.2B Valuation

Tether has joined Tenstorrent’s $1.5 billion Series E funding round at a $6.2 billion valuation, according to CryptoNews. Tether Capital announced its participation on Oct. 20, adding an artificial intelligence hardware investment to its existing work on software and automated payments.

Funding and Expansion Plans

Neither company disclosed Tether’s specific investment amount, its ownership stake, or how the transaction will be recorded in company accounts. Tenstorrent disclosed that it completed its financing round on Oct. 19, with Trace Capital and Innovation X leading the round. Other participating investors named by the chipmaker include ARK Invest, Fidelity Management & Research Company, Morgan Stanley, Sandisk, T. Rowe Price, Eclipse, and XTX Markets.

Led by CEO Jim Keller, Tenstorrent plans to use the proceeds to fund Galaxy server production, chip development, and global expansion. The company’s servers support open-weight language models and video generation, offering products ranging from individual cards to superclusters.

Strategic Focus and Prior AI Activity

Commenting on the investment, Tether CEO Paolo Ardoino stated that artificial intelligence should be built, run, and controlled independently by users. Tether’s recent projects in the sector include participation in a seed extension for AIsa, an enterprise AI agent payment platform, alongside an offline speech recognition model named TranscribePsy.

Key facts

• Tether joined Tenstorrent’s $1.5 billion Series E funding round at a $6.2 billion valuation.
• Tenstorrent plans to fund Galaxy server production, chip development, and global expansion.
• Neither company disclosed Tether’s investment amount or ownership stake.
• Tenstorrent is led by CEO Jim Keller, who previously worked at Tesla, Apple, and AMD.