Tether joins Tenstorrent’s $1.5B round as AI investments grow

Tether has joined Tenstorrent’s $1.5 billion Series E funding round at a $6.2 billion valuation, adding an AI hardware investment to its work on software and automated payments. Summary Tether joined Tenstorrent’s $1.5 billion 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. Tether’s other recent AI projects include AIsa payments and offline speech recognition. Tether Capital announced its participation on Oct. 20, just a day after Tenstorrent disclosed it had completed its financing round. Neither company said how much Tether invested, how much of Tenstorrent it owns, or how it will record the investment in its accounts. In its announcement, Tether described its El Salvador-based investment arm as a business that deploys company profits and excess reserves. It did not identify which funds paid for the Tenstorrent stake or place the investment within a specific balance-sheet category. Tether joins a completed Tenstorrent equity round In its Oct. 19 statement, Tenstorrent identifies Trace Capital and Innovation X as the round’s...