Tenstorrent Secures $100 mn in VC funding Led by Hyundai and Samsung

Tenstorrent, a provider of AI processors and licenser of AI and RISC-V IP, has closed a strategic financing up-round, raising $100 million in capital.
VC funding for tech
The VC funding round was spearheaded by Hyundai Motor Group and Samsung Catalyst Fund, and saw participation from prominent investors, including Fidelity Ventures, Eclipse Ventures, Epiq Capital, and Maverick Capital, among others.

Tenstorrent’s AI processors have gained significant traction in the market, enabling customers to own and customize their silicon, thereby meeting their specific AI processing needs. With this financing round, the company aims to further bolster its product development efforts, enhance the design and development of AI chiplets, and advance its ML (Machine Learning) software roadmap.

The backing of Hyundai Motor Group and Samsung Catalyst Fund in this financing round is particularly noteworthy. Both companies have established themselves as leaders in their respective markets and have achieved remarkable success in their areas of expertise. Their support and partnership with Tenstorrent signal a strong endorsement of the company’s vision and technology.

Tenstorrent’s commitment to empowering customers with tailored AI processing solutions has garnered significant interest from investors and industry players alike. The latest funding injection will enable the company to scale its operations, expand its product offerings, and stay at the forefront of innovation in the AI and semiconductor space.

As the demand for AI solutions continues to surge across industries, Tenstorrent’s AI processors and licensable IP present an attractive proposition for companies seeking to leverage cutting-edge AI capabilities in their products and services. The strategic financing round positions Tenstorrent for accelerated growth and reinforces its position as a key player in the AI semiconductor landscape.