Investment supports Tether’s ambition to make AI more accessible by giving developers and businesses greater control over the technology powering it
20 October, 2026 – Tether Capital today announced its participation in the $1.5 billion Series E funding round of Tenstorrent, an AI computing company developing high-performance processors, systems and software. The round values Tenstorrent at $6.2 billion and advances Tether’s efforts to support open AI infrastructure, giving more people and businesses the ability to develop and run AI systems independently.
As artificial intelligence becomes more widely used, access to the computing power needed to run it remains concentrated among a small number of technology companies. Developers and businesses often depend on expensive, proprietary hardware and cloud services, limiting their ability to choose how and where their AI systems operate.
Tenstorrent is building an alternative. Led by chip architect Jim Keller, the company develops AI processors, servers, and software designed to give customers more control over their computing infrastructure. Its open-source software allows developers to run advanced AI models locally, while its hardware ranges from individual workstations to large-scale server systems. Tenstorrent also licenses its chip designs to companies developing their own processors, helping expand the options available beyond established hardware providers.
“AI should be something people can build, run and control themselves, without having to rely on a handful of companies for the computing power behind it,” said Paolo Ardoino, CEO of Tether. “The team at Tenstorrent are developing technology that gives businesses and developers more freedom to choose how they build and deploy AI. We believe open computing infrastructure will be essential to making AI accessible to more people, and we’re excited to support Tenstorrent as it brings that technology to a wider market.”
Tenstorrent will use the new funding to expand production and deployment of its Galaxy server systems, advance its AI and CPU technology, and grow its commercial operations globally. The round saw participation from Tether Capital and other new and existing investors*. Its technology already serves customers developing their own chips, including Samsung and LG, and supports applications ranging from large language models to video generation.
The investment builds on Tether’s broader work to make advanced intelligence more accessible. Through QVAC, its open-source AI platform, Tether is developing technology that allows AI to run directly on users’ devices, reducing dependence on centralized cloud services and giving individuals greater control over their data and computing resources.
The investment builds on Tether’s broader efforts across AI software, robotics and payments. Its QVAC platform is designed to run AI directly on users’ devices. Supporting Tenstorrent extends that focus to the processors and computing systems underpinning AI.
About Tether Capital
Tether Capital is the independent investment arm of Tether, the largest company in the digital assets industry. Based in El Salvador, the company deploys capital from Tether’s profits and excess reserves across a wide range of sectors where technology, infrastructure, and real-world utility intersect.
Its portfolio includes investments in artificial intelligence, financial services, energy, biotechnology, education, and digital media, as well as strategic stakes in industries such as commodities, remittances, and sports and entertainment. Tether Capital supports ventures with long-term potential to improve access, efficiency, and resilience in both emerging and developed markets. Its work supports Tether Group’s broader mission to strengthen decentralized systems, promote infrastructure resilience, and expand real-world access to open, transparent technologies.
