The ou d was led by T ace Capital a d I ovatio X, with pa ticipatio f om ew a d existi g i vesto s i cludi g Agosti elli G oup, ARK I vest, B ett Ba a, Cade ce Ve tu es, Eclipse, Fidelity Ma ageme t & Resea ch Compa y, Mave ick Silico , Mo ga Sta ley, P otago ist, Sa disk, T. Rowe P ice*, Tethe I vestme ts, T oluce Capital, Vi tu Fi a cial, a d XTX Ma kets.
Te sto e t will use the capital to deploy Galaxy se ve s at scale, co ti ui g to se ve ope -weight models ac oss LLMs a d video ge e atio , a d adva ce the AI a d CPU IP it lice ses to custome s desig i g thei ow silico .
Te sto e t sells AI compute at eve y level of the stack – f om a si gle ca d o wo kstatio to acks, supe cluste s, a d custom IP. With a ope -sou ce softwa e stack, develope s ca u f o tie models locally a d e te p ises ca deploy models o -p em at i dust y-leadi g late cy a d th oughput.
“We built o e a chitectu e a d sell it at eve y size,” said Jim Kelle , CEO of Te sto e t. “The futu e of compute is ope , scalable, a d ow ed by the people buildi g o it. Ou i vesto s believe i that model too, a d we app eciate thei suppo t.”
“Jim a d his team b i g decades of ha ds-o silico , softwa e, a d IP expe ie ce, a d we’ e excited to pa t e with Te sto e t as Galaxy co ti ues to scale,” said Be Mahdavi, Fou de at T ace Capital.
“Few compa ies desig the chip a d the softwa e that u s o it. Te sto e t does both, a d its video ge e atio esults beat i dust y be chma ks ahead of ou expectatio s,” said Geo ge Bousis, Co-Fou de a d Ma agi g Pa t e at P otago ist. “We a e excited to double dow i the Se ies E to back Jim a d the team th ough this ext phase of g owth.”
*Accou ts advised by T. Rowe P ice Associates, I c.
Te sto e t is a AI compute compa y led by CEO Jim Kelle – a chitect of Apple A4/A5, AMD Ze , a d Tesla’s Full Self-D ivi g chip. The compa y builds RISC-V-based AI p ocesso s a d systems fo develope s, e te p ises, a d sove eig i f ast uctu e wo ldwide. I additio to se ve s a d wo kstatio s, Te sto e t lice ses its TT-Ascalo RISC-V CPU a d Te six AI co es to chip desig e s i cludi g Samsu g a d LG. Backed by Bezos Expeditio s, Samsu g, LG Elect o ics, Hyu dai Moto G oup, Fidelity Ma ageme t a d Resea ch Compa y, a d othe s, Te sto e t ope ates f om Sa ta Cla a, Austi , To o to, Belg ade, Tokyo, a d Ba galo e. te sto e t.com
T ace Capital is a i vestme t fi m that i vests i , acqui es, a d builds exceptio al busi esses ac oss stages a d i dust ies. The fi m takes a lo g-te m, co ce t ated app oach to busi esses at the fo ef o t of tech ological cha ge a d the i dust ies bei g t a sfo med by it.
T ace Capital was fou ded i 2026 by Be Mahdavi, who p eviously co-fou ded Quiet Capital a d led its Access st ategy. Du i g his time at Quiet, the fi m i vested i ma y of the leadi g tech ology busi esses of the past decade.
Fou ded i 2016 by Roge Mo tefo te, I ovatio X is a late-stage ve tu e capital fi m that i vests i p ivately held compa ies with i ovative o dis uptive tech ologies ac oss defe se tech ology, fi tech, a tificial i tellige ce, i f ast uctu e, a d the space eco omy. I ovatio X Adviso s has ove $4.5B u de ma ageme t ac oss multiple fu ds (as epo ted o Fo m ADV as of 12/31/2025).
Justi Mauldi Salie t PRachievemo e@salie tp .com737.234.0936
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