AI chip startup Tenstorrent has secured $700 million in its latest funding round, bringing its valuation to $2.6 billion. The round was led by AFW Partners and Samsung Securities, with participation from LG Electronics, Fidelity, and Bezos Expeditions, the VC firm founded by Jeff Bezos.
Tenstorrent plans to use the funding to expand its workforce, optimize its supply chain, and develop AI training servers to showcase its cutting-edge technologies.
Specializing in high-performance, cost-efficient AI chips, Tenstorrent leverages open-source technology to reduce reliance on expensive high-bandwidth memory (HBM), positioning itself as a strong competitor to Nvidia. The company also emphasizes interoperability with other providers and is a staunch advocate of the open-standard RISC-V architecture.
Jim Keller, CEO of Tenstorrent, stated, “Nvidia holds a cost advantage with HBM, but this model cannot effectively lower prices. Through open-source and efficient design, we provide more cost-effective solutions.”
The company has already secured $150M in contracts and plans to release a new AI processor every year. Its upcoming chip series, including a 2nm AI accelerator, will be manufactured by TSMC and Samsung. The company’s first chip, Grayskull, based on RISC-V architecture, was designed for ease of programming and scalability.
Tenstorrent’s growth underscores the increasing demand for Nvidia alternatives as competition in the AI and semiconductor industry heats up.
Via Bloomberg
News Source:bloomberg，This article does not represent our position.
