Tenstorrent

Tenstorrent Secures $693M Series D for AI Chip Development

Tenstorrent, a leading AI hardware company developing next-generation processors and chips optimized for machine learning workloads, has raised $693 million in Series D funding.

The round was led by Samsung Securities and AFW Partners, with significant participation from Fidelity, Bezos Expeditions, Hyundai Motor Group, LG Electronics, and Export Development Canada.

Key Highlights

• Post-money valuation of $2.7 billion
• Total funding to date: $1.0 billion
• Round closed December 2, 2024
• Focus on AI hardware and semiconductor solutions

Company Overview

Founded by Jim Keller, a legendary chip architect who previously worked at Apple, AMD, Tesla, and Intel, Tenstorrent is developing advanced AI hardware and software solutions for data processing and machine learning applications.

The company's approach focuses on creating more efficient AI chips that can compete with NVIDIA's dominant position in the AI hardware market.

Use of Funds

The funding will be used to accelerate product development, expand manufacturing partnerships, and grow the company's global footprint in the rapidly expanding AI hardware market.