Tenstorrent Raises $700M with Jeff Bezos to Challenge Nvidia's AI Chips

Dec 2, 2024, 12:44 PM

Tenstorrent, a Toronto-based AI chip startup founded by semiconductor pioneer Jim Keller, has secured $700 million in a Series D funding round led by Samsung Securities and AFW Partners, raising its valuation to approximately $2.6 billion. Notable investors in the round include Amazon founder Jeff Bezos. The company, which has $150 million in committed contracts mainly for intellectual property, aims to develop AI chips that can challenge Nvidia's dominance in the AI hardware market. Tenstorrent plans to use the funds to advance its open-source software and RISC-V technology, with its next-generation chip expected in early 2025, empowering developers and accelerating innovation in artificial intelligence. "We are excited by the breadth of investors that believe in our vision," said Keith Witek, COO of Tenstorrent.