US Stocks AI Daily on Oct 20, 2026: Tenstorrent Closes a $1.5B Series E

Only one pot of money actually changed hands in the AI news of October 19. Tenstorrent closed a $1.5B Series E at a $6.2B valuation led by Trace Capital and Innovation X, having chosen independence after takeover talks with two large chipmakers. Two power items carried far bigger numbers that same day, yet neither is approved: AEP (Ticker: AEP) signed a 960MW small nuclear joint development agreement with Amazon (Ticker: AMZN) and X-energy (Ticker: XE), and Entergy (Ticker: ETR) added 1,400MWh of storage for Google's (Ticker: GOOGL) Arkansas campus. Six items landed on four of the six layers, with Layer 3 Fab & Packaging and Layer 4 Memory scoring none.

 

 

Launch | Completed | Amazon press release (aboutamazon) 2026/10/19

Amazon (Ticker: AMZN) says existing PyTorch code runs on Trainium2 and Trainium3 with a single configuration change, and the Apache 2.0 release only lands at the PyTorch Conference on October 20.

 

Remarks | Completed | Reuters (via 93.3 The Drive) 2026/10/19

S&P expects the six largest US clouds to spend over $7 trillion on AI-related capex from 2025 to 2030 and cut Oracle (Ticker: ORCL) to BBB- in July; that figure is a third-party estimate and does not count toward deal value.

 

Funding | Completed | Tenstorrent press release 2026/10/19

The stated use of proceeds is deploying Galaxy servers at scale, backers include flash maker Sandisk (Ticker: SNDK), and the valuation more than doubles the $2.6B mark of December 2024; Tenstorrent is private and has no US ticker.

 

Launch | Completed | Meta engineering blog 2026/10/19

Meta (Ticker: META) says per-rack draw rises from about 120kW on Nvidia (Ticker: NVDA) GB200 to over 170kW on Vera Rubin, interruptions fell 99%, and the back-end network runs Arista (Ticker: ANET) chassis on Broadcom (Ticker: AVGO) silicon.

 

Contract | Under review | AEP press release (PR Newswire) 2026/10/19

Twelve X-energy (Ticker: XE) Xe-100 reactors of 80MW each add up to 960MW at a retired coal site owned by AEP (Ticker: AEP), and nothing is built until a final investment decision.

 

Contract | Under review | Entergy announcement (via Mugglehead) 2026/10/19

Entergy's (Ticker: ETR) roughly $600M of infrastructure investment needs Arkansas Public Service Commission approval, and Google (Ticker: GOOGL) pays full resource costs under a 20-year contract.

 

Tenstorrent's $1.5B is an equity round rather than an order book: the stated use of proceeds is taking Galaxy servers to volume, and no customer committed a dollar. Counted deal value this issue is $1.5B, with $78.6B excluded, of which AEP's (Ticker: AEP) $78B is a 2026 to 2030 investment plan rather than this project's value and Entergy's (Ticker: ETR) $600M is grid and generation capex. Both power items still need sign-off, as the 960MW Indiana plant awaits a final investment decision and the Arkansas expansion must clear the state utility commission. Meta (Ticker: META) said the same day that Prometheus load can swing tens of megawatts within seconds, so the constraint has moved from the chip to grid dispatch.

 

How to use this next time: when a headline says a company signed N megawatts, first separate a joint development agreement from a purchase contract, then check how far it has travelled toward a final investment decision and regulatory approval. Both power items this issue are stuck at the first step, one waiting on a final investment decision and one on a state commission. Read it the other way and the smallest number was the only money that truly moved, because size and certainty often run in opposite directions.

 

Disclaimer: This article was compiled and written by the MEXC US equities spot team (MEXC RealStocks) for market information and educational reference only. It is not investment advice and contains no buy or sell opinion. All stocks and companies mentioned are publicly discussed names and do not represent a recommendation or view of MEXC. Investing involves risk, so please exercise your own judgement.