Tenstorrent
Canvas Category Software : Engineering : Semiconductor
Tenstorrent is a next-generation computing company that builds computers for AI. Headquartered in Toronto, Canada, with U.S. offices in Austin, Texas, and Silicon Valley, and global offices in Belgrade and Bangalore, Tenstorrent brings together experts in the field of computer architecture, ASIC design, advanced systems, and neural network compilers.
Assembly Line
Tenstorrent closes $693M+ of Series D funding led by Samsung Securities and AFW Partners
Tenstorrent is announcing that it has closed over $693M in its Series D funding round at a pre-money valuation of $2B. Samsung Securities and AFW Partners led the round, which was oversubscribed due to strong demand from investors. Samsung and AFW both have deep relationships with Tenstorrent, and a strong history of investing in pioneering technology companies. In addition to the leads, many notable investors joined the round including XTX Markets, Corner Capital, MESH, Export Development Canada, Healthcare of Ontario Pension Plan, LG Electronics, Hyundai Motor Group, Fidelity Management & Research Company, Baillie Gifford, Bezos Expeditions, and more.
Tenstorrent builds and sells computers for artificial intelligence that are built using its Tensix cores. In addition to selling hardware, the open-source software stacks really set Tenstorrent apart from other players in the market. Tenstorrent licenses AI and RISC-V intellectual property to customers that want to own and customize their silicon.
Tenstorrent Raises $693 Million Series D
AI chip and IP startup Tenstorrent has raised $693 million in an oversubscribed Series D round including both financial and strategic investors, based on a pre-money valuation of $2 billion. The round was led by Samsung Securities and AFW Partners and new investors include XTX Markets, LG Electronics, Hyundai Motor Group and Bezos Expeditions. The funding will support Tenstorrent’s plans to deploy its IP, silicon and system products.
Tenstorrent’s $693 million Series D follows competitor Groq’s $640 million round in August 2024. Prior to that, it seemed the investment climate for AI chip companies had cooled, in part due to the AI chip industry’s failure to take any significant market share from leader Nvidia.
Tenstorrent RISC-V and Chiplet Technology Selected to Build the Future of AI in Japan
Tenstorrent is pleased to announce a multi-tiered partnership deal with Japan’s Leading-edge Semiconductor Technology Center (LSTC), which selected Tenstorrent’s world-class RISC-V and Chiplet IP for its all-new edge 2nm AI Accelerator. In addition to the IP licensing portion of this deal, Tenstorrent will work with LSTC as a collaborative innovation partner to co-design the chip that will redefine AI performance in Japan.
Under this project, Tenstorrent will also work with Rapidus Corporation, a newly founded Japanese semiconductor company that will develop state-of-the-art logic semiconductor technologies with an ambitious goal to achieve the world’s best cycle time reduction services. Rapidus is planning to serve not only for wafer processing but also advanced packaging to meet the customer’s specific needs through maximizing the effectiveness of the total manufacturing process. Their strategy is well aligned with Tenstorrent’s direction.
Rapidus and Tenstorrent Partner to Accelerate Development of AI Edge Device Domain Based on 2nm Logic
Rapidus Corporation, a company involved in the research, development, design, manufacture, and sales of advanced logic semiconductors, today announced an agreement with Tenstorrent Inc., a next-generation computing company building computers for AI, to jointly develop semiconductor IP (design assets) in the field of AI edge devices based on 2nm logic semiconductors.
In addition to its AI processors and servers, Tenstorrent built and owns the world’s most performant RISC-V CPU IP and licenses that technology to its customers around the world. Through this technological partnership with Rapidus, Tenstorrent will accelerate the development of cutting-edge devices to meet the needs of the ever-evolving digital society.
Tenstorrent Raises a $100M Strategic Up-round Co-led by Hyundai Motor Group and the Samsung Catalyst Fund
Tenstorrent is pleased to announce that it closed a $100M strategic financing up-round led by Hyundai Motor Group and Samsung Catalyst Fund, with participation from Fidelity Ventures, Eclipse Ventures, Epiq Capital, Maverick Capital, and more.
Tenstorrent sells AI processors and licenses AI and RISC-V IP to customers that want to own and customize their silicon. Both Hyundai Motor Group and Samsung have a strong history of product leadership and enjoy massive success in their respective markets.