Tenstorrent: Raises Over $200M in Funding; Valued at $1 Billion

Tenstorrent Raises Over $200M in Funding; Valued at $1 Billion

• Tenstorrent, Canada-based a hardware startup developing next generation computers, raised over $200M in funding round at a $1B valuation
• The round was led by Fidelity Management and Research Company with participation from Eclipse Ventures, Epic CG and Moore Capital
• The company intends to use the funds to continue creating AI focused hardware for developers
• Tenstorrent is a hardware startup developing next generation computers whose Grayskull processor will go to market in the second half of 2021
• The company will be launching DevCloud which will allow developers to try running their models without first having to purchase hardware
• The company is headquartered in Toronto, Canada, with U.S. offices in Austin, Texas, and Silicon Valley