Tenstorrent, a leading provider of AI hardware and software, has closed a $693 million Series D funding round, bringing its pre-money valuation to $2 billion. The funding round was led by Samsung Securities and AFW Partners, with participation from notable investors such as XTX Markets, LG Electronics, Hyundai Motor Group, and Bezos Expeditions. The investment reflects strong demand and commercial traction in Tenstorrent’s vision for AI-driven technologies.
- Series D Funding and Investor Backing
- The Series D funding round, oversubscribed due to high investor demand, raised over $693 million for Tenstorrent.
- Samsung Securities and AFW Partners, both with deep ties to Tenstorrent, led the round, demonstrating continued confidence in the company’s vision.
- Other investors in the round include XTX Markets, Corner Capital, LG Electronics, Hyundai Motor Group, and more, reinforcing strong commercial and strategic support.
- Tenstorrent’s AI Technology and Innovation
- Tenstorrent specializes in AI computers built with its Tensix cores, offering cutting-edge hardware for artificial intelligence applications.
- A standout feature of Tenstorrent’s offering is its open-source software stacks, which differentiate the company from other AI hardware players.
- The company also licenses AI and RISC-V intellectual property, enabling customers to customize their silicon solutions.
- Plans for Growth and Global Expansion
- Tenstorrent plans to use the Series D funding to further develop its open-source AI software stacks, hire developers, and expand its global presence.
- The funding will support the company’s efforts to build systems and cloud solutions tailored for AI developers, helping accelerate the adoption of Tenstorrent’s technologies.
- Strategic Approach to Open-Source Software
- Tenstorrent’s open-source software approach has garnered significant attention from investors, with many recognizing it as a key differentiator in the competitive AI market.
- The company’s commitment to providing developers with the tools to own their technology is viewed as a critical factor in driving long-term success.
- Comments from Key Executives and Investors
- Keith Witek, Chief Operating Officer of Tenstorrent, expressed excitement over the diverse group of investors backing the company, highlighting the balance of financial and strategic partners.
- Jim Keller, CEO of Tenstorrent, emphasized the importance of developer engagement and the value of Tenstorrent’s open-source approach to AI.
- Bonil Koo, Managing Director at AFW Partners, and Joshua Leahy, Chief Technology Officer at XTX Markets, both praised Tenstorrent’s innovation and its potential to disrupt the AI hardware and software space.
With $693 million in new funding and the backing of key industry players, Tenstorrent is poised to accelerate its growth in the AI market. The company’s open-source approach, coupled with its cutting-edge hardware, positions it to drive significant innovation in the AI space, offering developers the tools they need to build scalable, customized solutions
