TUE 20 OCT 2026 · 1 MIN READ
A thin Monday-to-Tuesday: a grid delay costs Nscale a Microsoft site, and Tenstorrent raises $1.5B.
Microsoft dropped a 23,040-GPU UK build after power slipped to the 2030s, per press reports. Tenstorrent closed a $1.5B Series E at $6.2B. Buyer-signal, model and power sections had nothing new and sourced.
General AI Infrastructure
Tenstorrent raises $1.5B at $6.2B
TakeawayTenstorrent, the RISC-V AI chip designer, announced a $1.5B Series E.
- Post-money valuation: $6.2B; Trace Capital and Innovation X led.
- Funds go to Galaxy servers at scale, serving open-weight models, and volume manufacturing.
- The release names no Galaxy server customers.
AngleThe money funds a non-NVIDIA supply option, but with no named buyers the demand side is unproven. Watch for the first disclosed Galaxy deployment and its power draw.
Neocloud & GPU Cloud Moves
Microsoft reportedly drops Nscale's Loughton site
TakeawayThe Telegraph reported Microsoft terminated its rental of AI capacity at Nscale's Loughton, Essex site; Nscale has not confirmed the termination.
- Grid officials reportedly said adequate power would not arrive until the 2030s.
- The site planned 23,040 Nvidia GPUs by Q1 2027, starting at 50MW.
- Per its IPO filing, Microsoft and Anthropic are about 85% of Nscale's contract value.
AnglePower timing, not GPU supply, killed the site. Nscale says its other Microsoft contracts are unaffected, but customer concentration now sits next to its IPO plans, reportedly $3B at a $35B valuation.
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