Tether backs Tenstorrent’s $1.5 billion raise to widen access to AI computing

Tether, the company behind the world’s most widely used stablecoin, has put money into AI chip developer Tenstorrent. The stated goal is to increase access to AI computing infrastructure. The investment came through Tether Capital, the firm’s investment branch. It landed as part of a much larger financing event, and the numbers attached to that event are hard to ignore. A $1.5 billion round at a $6.2 billion valuation On October 19, 2026, Tenstorrent announced it had completed a $1.5 billion Series E funding round. The deal set the company’s post-money valuation at $6.2 billion. The jump is steep. Tenstorrent’s Series D in December 2024 valued the company at $2 billion, so the new figure more than doubles it. Trace Capital and Innovation X led the raise. A long list of other financial firms joined, including ARK Invest and Fidelity Management, with Tether Capital among the notable participants. What the money is for Tenstorrent plans to use the capital in three main ways. It will scale production of its Galaxy servers, push forward on AI and CPU technology development, and expand its commercial operations globally. The Galaxy servers are the headline product. Each one packs dozens ...