Tenstorrent Raises $700 Million in Funding

Tenstorrent, a high-performance computing startup, has successfully closed a Series D funding round of over $693 million, led by Samsung Securities and AFW Partners, valuing the company at approximately $2 billion. The funding, which brings the total raised since the company's inception in 2016 to around $1 billion, will be used to enhance its engineering team, develop AI training servers, and expand its global design centers. Tenstorrent focuses on providing open-source AI software and customizable silicon through its Tensix cores and RISC-V intellectual property, positioning itself as a competitive alternative to Nvidia. CEO Jim Keller emphasized the company's commitment to building a developer-friendly environment through open-source tools. The investment round attracted a diverse mix of strategic and financial investors, reflecting strong confidence in Tenstorrent's vision for AI technology. The move comes as demand for cost-efficient AI computing solutions continues to grow, challenging established players in the market.