Tolan raises $30 million for AI companion app
Union Square Ventures, Khosla Ventures and Homebrew participated in the round, which doubled the startup’s total funding, according to a media report.
Tenstorrent valued at $6.2 billion in Series E funding
The AI chip startup raised $1.5 billion and said it would use the proceeds to expand Galaxy server production.
Tenstorrent announced a $1.5 billion Series E fundraising on October 19, with Trace Capital and Innovation X leading the investment. The AI chip developer said the transaction gave it a post-money valuation of $6.2 billion, more than twice its valuation in December 2024.
The company, based in Santa Clara, California, said the money would support higher production of its Galaxy servers. Each combines dozens of the company's AI chips to run applications ranging from coding assistants to chatbots and video generators.
Investors joining the round included Tether Investments, Sandisk, Cathie Wood's ARK Invest, T. Rowe Price and Morgan Stanley. The previous financing, in December 2024, attracted more than $693 million at a pre-money valuation of $2 billion. Samsung Securities and AFW Partners led that round.
Tenstorrent's chips and software use RISC-V, an open-source architecture that permits processor design without licensing fees and reduces dependence on proprietary systems such as Arm's. Its CEO, Jim Keller, formerly directed development of Tesla's self-driving chip for electric vehicles and worked in chip design at AMD and Apple.