The funding round highlights two trends in the AI sector: the significant role of strategic investors in growing the AI ecosystem and the increasing interest in the infrastructure layer that supports large generative AI platforms. Startups like CoreWeave and Pinecone, which contribute to the foundation layer of AI, have recently attracted substantial investment.
Key takeaways:
- AI chip startup Tenstorrent has raised $100 million in strategic financing from Hyundai, Samsung, and other investors such as Fidelity Ventures, Eclipse Ventures, Epiq Capital, and Maverick Capital.
- The funds will be used for product development, including the design and development of AI chiplets and its ML software roadmap.
- Since its founding in 2016, Tenstorrent has raised nearly $335 million in total.
- The investment illustrates the growing interest in AI and the opportunities in the infrastructure layer that supports AI platforms.