Tenstorrent Nears $3 Billion Valuation in Fidelity-Led Round

Chip startup Tenstorrent has been in talks to raise at least $800 million in a deal led by current investor Fidelity Management, according to two people with direct knowledge of the talks. The investment would value the Toronto-based firm at around $3.2 billion before the investment, a 60% increase from its valuation not including the investment last year, one of the people said. The funding round highlights continued investor interest in startups hoping to unseat Nvidia’s domination of the...