Tenstorrent Stock: Will IPO Shares Flood the Market this Year?

Explore opportunities to invest in Tenstorrent stock before the IPO date. Invest in pre-IPO AI startups like OpenAI and Anthropic via the Fundrise Innovation Fund*. $10 minimum investment.

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Notable Tenstorrent News

12/02/2024: Tenstorrent closes $693M+ of Series D funding
08/02/2023: Tenstorrent Raises a $100M Strategic Up-round
04/07/2023: CTO Ljubisa Bajic steps back
Older news…

About Tenstorrent

Tenstorrent was founded in 2016 by Ljubisa Bajic, Ivan Hamer, and Milos Trajkovic, former engineers at AMD. The Canada-based startup builds computers for AI.

Industry veteran Jim Keller joined the company in 2021, and Bajic stepped back from his role in 2023 and went on to found Taalas.

The company began with the vision of creating high-performance, energy-efficient desktop, server, and cloud hardware capable of accelerating AI workloads for developers.

Headquartered in Toronto, Tenstorrent has become a key player in the AI and semiconductor space, building innovative hardware and software solutions.

Its primary product line includes RISC-V-based (“risk-five”, reduced instruction set computer) AI processors and a software ecosystem designed to optimize machine learning tasks, focusing on scalability and power efficiency.

Competing against giants like Nvidia and startups like Groq and Cerebras, Tenstorrent has carved out a niche by integrating open-source RISC-V technology with AI acceleration.

The company is well-positioned in the competitive landscape due to its unique architecture and partnerships, including collaborations with big-name clients and corporate investors.

Ownership

Tenstorrent is a venture-backed startup. Its equity ownership participants include the founders, employees, and high-profile venture capital firms. 

Investors include Samsung Securities, AFW Partners, Fidelity, Bezos Expeditions, LG Electronics, Export Development Canada, Healthcare of Ontario Pension Plan, Hyundai Motor Group, Eclipse Ventures, XTX Markets, Corner Capital, MESH, Epic CG, Moore Capital, Maverick Capital, Real Ventures, and Baillie Gifford.

The company has raised $1 billion in funding since its founding.

Funding Rounds

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Valuation

The latest confirmed Tenstorrent valuation is $2 billion based on the December 2024 Series D funding round. 

IPO Potential

The Tenstorrent IPO date has yet to be determined. The CEO has not indicated the company’s ambitions to become a public company. 

Tenstorrent provides computer processing in the hyper-growth area of artificial intelligence. Despite Nvidia’s dominance, the marketplace is open for additional chip suppliers. 

However, many leading chip startup companies require significant capital to scale up production.

One way to raise money is through an IPO. But venture capital funding is plentiful, delaying the IPO ambitions of several other startups. 

If Cerebras, CoreWeave, or another pure-play AI company conducts a well-received IPO in the coming year or two, we could see Tenstorrent move toward a public offering. At a $2 billion Series D valuation, I expect it to conduct another private round before going public. 

An acquisition is another possibility as large tech companies vie for AI dominance. 

How to Invest in Tenstorrent Stock

Savvy investors may find opportunities to own the company before and during the IPO. 

Because of the SEC accreditation requirement, most individuals cannot own Tenstorrent stock directly via pre-IPO investing platforms. However, accredited investors can explore private ownership. 

Non-accredited investors can evaluate venture capital funds to find access to pre-IPO startups. One well-known fund holds a stake, making the company accessible to U.S. investors 18+.

If not through the VC fund, the most likely way for most investors to own Tenstorrent stock is to wait for the IPO and buy shares after it goes public.

Here are some potential options to own Tenstorrent stock before, during, and after the IPO.

1. Access Tenstorrent stock pre-IPO

Multiple pre-IPO investment platforms have recently offered Tenstorrent stock for early purchase as employees or early investors have sought to sell some of their shares before the Tenstorrent IPO.

Accredited investors can invest when available, provided they are registered on the platform and receive notifications about their availability.

Monitor pre-IPO investing platforms such as Hiive, Forge Global, EquityZen, and Linqto for availability. Linqto had recent availability; check for the latest.  

Investment minimums on these platforms range from $1,000 to $50,000, and deal-specific minimum investment amounts will vary.

Venture capital funds are an asset class that emerged in 2022 that allows non-accredited investors to own pre-IPO startups.

The ARK Venture Fund owns a stake in Tenstorrent, making it available to U.S. non-accredited investors. Those interested will need to open an account with SoFi Invest to purchase a stake, as it is the exclusive provider as of January 2025. 

Tenstorrent makes up 2.25% of the fund as of December 31st, 2024. The minimum investment is $500. 

The Fundrise Innovation Fund (review) is another promising fund for patient, long-term investors. It holds multiple AI and technology startups. U.S.-based investors can make their first investment for $10. 

However, Tenstorrent is not currently a fund holding. Fundrise has indicated that AI companies will be a foundational target sector. Investors can own other AI private stocks like OpenAI, Anthropic, and Databricks in lieu of Tenstorrent. 

Check out our top pre-IPO investing platforms for the latest share availability. 

Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.

2. Participate in the Tenstorrent IPO through a broker

When a company eventually goes public, investors can attempt to buy the stock during the IPO.

Historically, only Wall Street’s top customers can invest in IPOs. But now, ordinary investors can access IPOs through participating discount brokers. 

Some online brokers (like the ones listed below) allow investors to invest in IPOs for free, even if they have limited funds in their accounts.

• TradeStation 
• Robinhood 

TradeStation has a more established track record of accessing more than 400 IPOs and secondary offerings via its partnership with Click Markets.

Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs.

Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.

3. Buy the stock after the Tenstorrent IPO

Waiting for the IPO provides access to established financials after a few trading quarters, whereas pre-IPO investing has limited transparency. 

High-demand companies like Tenstorrent can be overvalued at the time of their public offering, selling shares near their peak. Shares may be at risk of significant losses upon market corrections.

Despite high initial valuations, stock prices sometimes decline after the first and second-quarter earnings reports post-IPO. For example, Rivian and Robinhood dropped over 80% six months after their 2021 IPOs.

Stock price declines sometimes make good entry points for long-term buy-and-hold investors, but watch out for lockup expirations and earnings discrepancies as they may impact price movements. 

Patience is essential. The most disruptive companies may not deliver in the short term but hold the most potential over the next few decades. 

Frequently Asked Questions (FAQs)

Is Tenstorrent publicly traded?

No. Tenstorrent is not publicly traded. It is a private company. 

What is the Tenstorrent stock price?

Since Tenstorrent is not traded on a stock exchange, there is no public Tenstorrent stock price yet. 

Pre-IPO marketplace data can offer some guidance on the current price. Trades on the Hiive platform in late December 2024 indicate shares traded hands at a price of $67 per share.

Listing prices have risen into the $70-$80 per share range after the Series D.

What is the Tenstorrent stock symbol?

There is no Tenstorrent stock symbol because the company is private. The company may reserve a stock symbol while planning to file for an IPO. The reserved symbol will be revealed when the S-1 filing is released to the public.

Though private information regarding forthcoming IPOs typically leaks to the press, startup stock symbols are usually not confirmed until the filing. 

Here are a few Tenstorrent ticker suggestions that are available on U.S. exchanges:

• TENS
• TTOR
• TRNT

Where is the Tenstorrent IPO S-1 Filing?

The Tenstorrent S-1 filing has not been released to the public, and there is no indication of a confidential filing.

The document will become available if the company submits filings to the SEC and the regulatory commission approves and releases it to the public. 

We’ll post a copy of the S-1 filing on this page when it becomes available.  

You can monitor the most recent S-1 IPO filings on this website.

News Archive

01/06/2021: Jim Keller joins Tenstorrent as President and CTO

Conclusion

Tenstorrent has carved out a unique position in the rapidly evolving AI hardware landscape.

The integration of RISC-V-based architecture and AI acceleration positions the company to capitalize on the immense opportunities in this hyper-growth industry.

Despite Nvidia’s household name industry dominance, Tenstorrent’s open-source and more energy-efficient chips fill a competitive gap. This niche is attracting significant private capital and partnerships with those aiming to hitch a ride on the AI train over the coming decades.

However, its $2 billion valuation is relatively small, indicating additional funding rounds or an acquisition may be necessary to scale.

A potential public offering depends heavily on broader market trends and the performance of competitors like Cerebras or CoreWeave should they go public in the next 12 months.

For retail investors seeking pre-IPO investment exposure, the ARK Venture Fund provides an accessible investment vehicle suitable for U.S.-based investors.

Looking ahead, Tenstorrent’s ability to remain innovative, attract strategic funding and partnerships, and capitalize on its niche will determine its long-term success.

Invest in pre-IPO and IPO companies with caution. Good luck if the Tenstorrent stock is on your watch list.