AI chip developer Tenstorrent has successfully closed a $100 million strategic financing up-round, co-led by Hyundai Motor Group and the Samsung Catalyst Fund. The funding round was announced on August 3, 2023, and includes participation from other investors such as Fidelity Ventures, Eclipse Ventures, Maverick Capital, and more.
Tenstorrent, headquartered in Toronto, Canada, with global offices in various locations, specializes in selling AI processors and licensing AI and RISC-V IP to customers who wish to own and customize their silicon. The company’s CEO, Jim Keller, has previously developed AI chips for major tech companies like Apple, Intel, and Tesla.
The funding details reveal that $30 million came from Hyundai, $20 million from Kia, and $50 million from the Catalyst Fund by Samsung and other participating investors. The funds will be used to “accelerate the company’s product development, the design and development of AI…
