SYDNEY, AUSTRALIA, October 30, 2026 /EINPresswire.com/ — Australian private markets technology investment platform NonPublic has again given Australian investors access to a US technology unicorn before it has hit public markets, with an ~$118 million investment in privately-held artificial intelligence (AI) chipmaker Tenstorrent.
The investment formed part of a US$1.5 billion Series E round that valued the company at US$6.2 billion, with NonPublic opening the raise for Australian investors through vehicles under its AFSL.
Tenstorrent now joins SpaceX, Perplexity, and Groq among the global private technology companies NonPublic has opened to Australian wholesale investors, who would typically need a minimum commitment of about US$1 million to US$5 million per deal to invest in these companies directly.
NonPublic puts Australian family offices and HNW investors alongside major global institutional investors participating in the deal, including ARK Invest, Citadel, Fidelity Management & Research Company, Morgan Stanley, and T. Rowe Price.
Houston-based private equity firm Trace Capital led the round, which also drew new and returning investors including chip design software company Cadence Design Systems, memory maker Sandisk, Tether, and XTX Ventures.
Tenstorrent will use the new funding to deploy its Galaxy servers at scale, which will continue serving open-weight large language models (LLMs) and video generation.
The staggering valuation commanded by Tenstorrent while still privately held is yet another example of the enormous value sitting in private tech companies that are out of reach of most Australian investors, according to NonPublic.
Milan Reinartz, founder and CEO at NonPublic, said: “Next generation AI tech companies are staying private for longer, so a lot of their growth now happens before investors can gain any exposure. There aren’t a great number of options for Australian investors to back these businesses during this period, which means that by the time they finally access the companies, much of the value has already been created. Creating a channel for eligible Australians to invest alongside the world’s major institutions before they list closes a gap that has kept Australian investors on the sidelines during what is typically the most valuable stage of a company’s growth.
“The businesses building on AI want control over their computing power at whatever scale they need. This is exactly what Tenstorrent offers by building the chips and computers that run AI. We’re excited to back Jim and the Tenstorrent team, and we will continue to open opportunities like this to Australian investors ahead of public markets.”
Jim Keller, CEO of Tenstorrent, said: “The future of compute is open, scalable, and owned by the people building on it. Our investors believe in that model too and we appreciate their support.”
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Please contact Priyanka Dogra for any interview requests: 0410 593 587
NonPublic (www.nonpublic.com) is an Australian-licensed investment platform providing wholesale/sophisticated investors with curated access to exclusive pre-IPO and private market opportunities, with a focus on leading global technology companies. Through a transparent, technology-enabled platform, NonPublic connects investors with high-growth private companies, secondary transactions, and alternative investment opportunities that have traditionally been difficult to access.
Investments through NonPublic are available to wholesale and sophisticated clients only. NonPublic Pty Ltd holds Australian Financial Services Licence (AFSL) 482668.
Tenstorrent (tenstorrent.com) is an AI compute company led by CEO Jim Keller – architect of Apple A4/A5, AMD Zen, and Tesla’s Full Self-Driving chip. The company builds RISC-V-based AI processors and systems for developers, enterprises, and sovereign infrastructure worldwide. In addition to servers and workstations, Tenstorrent licenses its TT-Ascalon RISC-V CPU and Tensix AI cores to chip designers including Samsung and LG. Backed by Bezos Expeditions, Samsung, LG Electronics, Hyundai Motor Group, Fidelity, and others, Tenstorrent operates from Santa Clara, Austin, Toronto, Belgrade, Tokyo, and Bangalore.
Priyanka Dogra
Third Hemisphere
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