"Tenstorrent is focusing on interoperability with other technology providers. It advocates for the open-standard #riscv processor architecture, which Keller believes attracts engineers and fosters innovation."
Open wins #opensourcehttps://t.co/8Ks0azJwr0
— Tenstorrent (@tenstorrent) December 2, 2024
Samsung, Jeff Bezos, and other high-profile investors have backed Tenstorrent, a startup chipmaker and Nvidia rival, in a nearly $700 million funding round. The round was led by Samsung Securities and AFW Partners, with participation from LG Electronics, Hyundai Motor Group, Fidelity, and Bezos Expeditions. Tenstorrent aims to challenge Nvidia by developing more affordable AI chips and processing solutions.
"Tenstorrent, which hopes to create a chip to try and break Nvidia’s stranglehold on the #ai business, raised capital in a funding round led by AFW Partners and Samsung Securities, founder and semiconductor pioneer @jimkxa said in an interview."https://t.co/mfYIBBNlYj
— Tenstorrent (@tenstorrent) December 2, 2024
The company’s COO, Keith Witek, expressed enthusiasm about the diverse group of investors supporting their vision, stating that the investors respect Tenstorrent’s team, technology, and vision. Founded in 2016, Tenstorrent’s mission is to offer AI hardware and open-source software for chip builders while also licensing products to clients looking to design their own silicon. The company operates out of 10 offices worldwide and is led by CEO Jim Keller, a renowned microprocessor engineer who joined the company in 2020.
Jeff Bezos joins Samsung in a $700 million bet on an AI chip startup with ambitions to challenge Nvidia https://t.co/BMSywTsiEV via @technology
— Paul Triolo (@pstAsiatech) December 2, 2024
Bezos-backed funding for AI chipmaker
Tenstorrent advocates the use of an open standard instruction set architecture known as RISC-V, which provides a royalty-free, open-source license for how software controls the CPU in a computer. This approach contrasts with Nvidia’s proprietary technology, which often entails significant costs for customers.
The funding will be used to expand Tenstorrent’s open-source AI software stacks, hire developers, broaden its global development and design centers, and build systems and clouds for AI developers. The company’s open-source approach has garnered interest from investors who recognize the importance of providing developers with the necessary tools to own their technology. Tenstorrent’s innovative approach and significant backing from high-profile investors position the company to carve out a substantial market share in the competitive AI space.
As the demand for affordable and accessible AI solutions grows, Tenstorrent’s open-source-driven approach could prove to be a game-changer in the industry.
