Artificial Intelligence is like a new exciting opportunity, and with it, we need special computer parts and software to make AI work better. Tenstorrent wants to change how computers are made for AI. Instead of using the usual computer instructions, they want to use a different kind that’s open for anyone to use.
The California-based company Tenstorrent just got a lot of money, $100 million, from big partners like Hyundai Motor Group and Samsung Catalyst Fund. Further, the round also saw participation from Fidelity Ventures, Eclipse Ventures, Epiq Capital, Maverick Capital, and more.
They have an acclaimed Silicon Valley chip architect Jim Keller as their CEO. Tenstorrent is good at making chips for AI that are based on this open way of making computers. They also do other things like special computer boards and services on the internet.
Founded in 2016, Tenstorrent is working hard to make better and different computer parts for AI, and they got a lot of money to help them do it.
“The trust in Tenstorrent shown by Hyundai Motor Group and Samsung Catalyst Fund leading our round is truly humbling,” said Jim Keller, CEO of Tenstorrent. “It has been impressive watching Hyundai Motor Group become the third largest automaker in the world through their aggressive adoption of technology including their acquisition of Boston Dynamics, their joint venture with Aptiv, and now their investment in us.”
“Tenstorrent’s high growth potential and high-performance AI semiconductors will help the Group secure competitive technologies for future mobilities,” said Heung-soo Kim, Executive Vice President and Head of the Global Strategy Office (GSO) at Hyundai Motor Group. “With this investment, the Group expects to develop optimized but differentiated semiconductor technology that will aid future mobilities and strengthen internal capabilities in AI technology development.”
“Samsung has long been a leader in the electronics industry and they are the ideal partner to co-lead this round,” continued Keller. “We are excited by the opportunity to work together.”
“Samsung Catalyst Fund invests in disruptive ideas that we believe can change the world,” said Marco Chisari, EVP of Samsung Electronics, Head of Samsung Semiconductor Innovation Center. “Tenstorrent’s industry-leading technology, executive leadership, and aggressive roadmap motivated us to co-lead this funding round. We are excited by the opportunity to work with Tenstorrent to accelerate AI and compute innovations.”
Funding will be used to accelerate the company’s product development, the design and development of AI chiplets, and its ML software roadmap.
