Tenstorrent Raises $693M at $2.6B Valuation to Challenge Nvidia

Dec 2, 2024, 02:25 PM

AI chip startup Tenstorrent Inc. announced it has raised over $693 million in a Series D funding round led by Samsung Securities and AFW Partners, at a pre-money valuation of $2 billion and a post-money valuation of approximately $2.6 billion. Notable investors in this round include Jeff Bezos and Samsung. The company, founded by semiconductor pioneer Jim Keller, has secured nearly $150 million in committed deals, mainly in intellectual property. Tenstorrent aims to develop AI chips to challenge Nvidia's dominance in the AI hardware market and plans to release its next-generation chips in early 2025.