Canadian tech hardware startup Tenstorrent raised $100 million from investors including Hyundai Motor Group
and Samsung Electronics
to develop advanced chips used in artificial intelligence.
The Toronto-based company said in a statement that the funding will be used to accelerate the company’s product developments, as well as its design and development of so-called “chiplets,” a way to create more powerful chips by stacking pre-existing chips together.
Tenstorrent, headed by chief executive officer Jim Keller, sells processors used in AI and licenses technology to customers that want to own and customize their own silicon.
Tech giants including AMD
are turning towards chiplets as the cost and challenge of making even more powerful and advanced chips skyrocket.
Other investors in Tenstorrent’s funding round include Fidelity Ventures, Eclipse Ventures and Epiq Capital.