Companies / Tenstorrent
Tenstorrent
Tenstorrent is an AI hardware and semiconductors company based in Santa Clara, California, founded in Canada. It had raised US$2.5B as of November 2026, most recently a US$1.5B Series E in October 2026 led by Trace Capital and Innovation X.
AI chips (Jim Keller).
tenstorrent.com- Founded
- 2016
- Category
- AI Hardware/
Semiconductors - Status
- Active
- Disclosed raised
- US$2.5B
- Listed as
- Founded in CanadaFounded in Toronto in 2016; headquarters moved to Santa Clara in 2023, with a Toronto office retained.
Funding history
| Round | Date | Amount | Investors |
|---|---|---|---|
| Series E | Oct 19, 2026 | US$1.5B | Trace Capital and Innovation X (co-leads); Fidelity, Eclipse Ventures, Maverick Silicon, T. Rowe Price. Closed at a US$6.2B post-money valuation, co-led by Trace Capital and Innovation X. Other investors named: Agostinelli Group, ARK Invest, Cadence Ventures, Eclipse, Fidelity Management & Research, Maverick Silicon, Morgan Stanley, Protagonist, Sandisk, T. Rowe Price, Tether Investments, Troluce Capital, Virtu Financial and XTX Markets. |
| Series D | Dec 2, 2024 | US$693M | Samsung Securities and AFW Partners (co-leads); Export Development Canada, HOOPP. >US$693M at US$2B pre-money |
| Venture round | Aug 2, 2023 | US$100M | Hyundai Motor Group and Samsung Catalyst Fund (co-leads); Fidelity, Eclipse Ventures, EPIQ Capital Group, Maverick Capital. Company calls it a strategic up-round; TechCrunch reports it as a convertible note; Kia's US$20M sits within the Hyundai co-lead. |
| Series C | May 20, 2021 | US$200M | Fidelity (lead); Eclipse Ventures, EPIQ Capital Group, Moore Capital, Real Ventures. Over US$200M at a US$1B valuation, led by Fidelity Management and Research. |
| Series B | Feb 2019 | US$20.7M | Eclipse Ventures, Real Ventures. Reported in VentureBeat's Apr 2020 profile |
| Series A | Aug 2017 | US$12.5M | Eclipse Ventures, Real Ventures. Reported in VentureBeat's Apr 2020 profile; no lead named in the source. |
Founders
- Milos Trajkovic, Co-founder.
- Ivan Hamer, Co-founder.
- Ljubisa Bajic, Co-founder (former CEO/CTO). No longer with the company.
Leadership
- Jim Keller, CEO.
Also backed by
Investors listed on their own portfolio pages or in reported coverage. Round details are not tracked in the Index.
In the newsletter
- CanadianAI: Dayforce buys Ribbon AI, and meet Steel, the Toronto-built browser for AI agents with 35M sessionsOct 27, 2026
- CanadianAI: Anthropic signs on for a $10B data centre in Cape Breton, and Tenstorrent raises US$1.5BOct 20, 2026
- CanadianAI: AMD buys Taalas, and Alberta pitches data centres as digital refineriesAug 11, 2026
- CanadianAI: A month of Canadian AI in one issue, an AI takes the CEO seatAug 4, 2026
- CanadianAI: The State of Canadian AI, H1 2026Jul 28, 2026
- CanadianAI:A US$220M contract for sovereign AI, and Qualcomm circles a Toronto companyJun 23, 2026
- Canadian AI: Ottawa's $890M supercomputer bid, a $92M chip exit, and AI that reads cancer cellsApr 21, 2026
- Canadian AI: Taalas and LawZero raising $100M+ eachFeb 24, 2026
Sources
- tenstorrent.com: Tenstorrent series e announcement
- thelogic.co: Tenstorrent series e announcement
- Covered in Canadian AI Newsletter, Issue 31
- prnewswire.com: Tenstorrent series d announcement
- prnewswire.com: Tenstorrent venture round announcement
- techcrunch.com: Tenstorrent venture round announcement
- prnewswire.com: Tenstorrent series c announcement
- betakit.com: Tenstorrent series c announcement
Data as of November 10, 2026.