Tether Capital Participates in AI Chip Company Tenstorrent's $1.5 Billion Series E Funding

Odaily reports: Stablecoin issuer Tether's investment arm Tether Capital has announced its participation in AI chip company Tenstorrent's $1.5 billion Series E funding round, valuing Tenstorrent at $6.2 billion post-funding. Tenstorrent, led by chip architect Jim Keller, primarily develops high-performance AI processors, server systems, and software, aiming to provide open AI computing infrastructure and reduce developers' reliance on the proprietary hardware and cloud services of a handful of large tech companies.

Tenstorrent plans to use this round of funding to expand production and deployment of its Galaxy server systems, advance R&D in AI chips and CPU technology, and expand its global commercial operations. The company's technology already serves enterprises including Samsung and LG, with applications spanning large language models and video generation, among other fields.