Chip company Tenstorrent's valuation doubles to $6.2 billion.

Title context: Text: After holding potential acquisition talks with Intel and Qualcomm, AI chip startup Tenstorrent ultimately chose to raise funding and develop independently. In an AI chip market dominated by giants such as Nvidia, the company is trying to seek a breakthrough with lower prices and customized services. According to a media report on October 19 local time, AI chip startup Tenstorrent said in a statement that it has completed a $1.5 billion Series E funding round, with its valuation rising to $6.2 billion. The round was led by Trace Capital, an investment institution newly established this year, with Innovation X co-leading, and SanDisk, U.S. asset management giant T. Rowe Price, and the venture capital arm of EDA giant Cadence participating, while existing shareholders such as Ark Invest and Fidelity Investments continued to follow on. Compared with its valuation of $2.6 billion in the previous funding round in 2024, Tenstorrent's valuation has more than doubled.