December 2, 2024:
Tenstorrent Raises $693M to Challenge Nvidia - Tenstorrent, an AI chip startup, raised over $693 million in a Series D funding round led by Samsung Securities and AFW Partners, reaching a $2 billion valuation. The company aims to compete with Nvidia by developing cost-effective AI hardware that avoids expensive components like high-bandwidth memory. Headquartered in Santa Clara, Tenstorrent uses an open-standard RISC-V architecture, which promotes interoperability and openness.
The funding will aid growth in open-source AI software and support global expansion. CEO Jim Keller focuses on affordability and customization to challenge Nvidia's dominance in the AI chip market.
