Tenstorrent plans to use the funding to improve its open-source AI stacks, hire developers, and expand its global development centers
AI chipmaker Tenstorrent has closed a more than $693 million in a series D funding round, putting the company’s pre-money valuation at $2 billion.
Samsung Securities and AFW Partners led the oversubscribed round. The company also has several notable investors including Hyundai Motor Group, Bezos Expeditions, XTX Markets, Corner Capital, MESH, Export Development Canada, Healthcare of Ontario Pension Plan, LG Electronics, Fidelity Management & Research Company and Baillie Gifford.
Tenstorrent chief operating officer Keith Witek said the company is excited by the “breadth of investors that believe in our vision.”
“If you look at this group, you see a balance of financial investors and strategic investors, as well as some notable individuals that have conviction in our plans for AI,” Witek said. “They respect our team, our technology and our vision. They see the $150M in deals closed as a strong signal of commercial traction and opportunity in the market.”
Tenstorrent plans to use the funding to enhance its open-source AI software stacks, recruit developers, grow its global development and design centers and create systems and cloud solutions for AI developers
The company designs and sells computers for artificial intelligence, powered by its proprietary Tensix cores. Tenstorrent also licenses AI and RISC-V intellectual property to customers who wish to design and customize their own silicon.
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