Tenstorrent plans to create an artificial intelligence chip to challenge NVIDIA's leadership. To this end, the startup has raised a new round of funding led by South Korean AFW Partners and Samsung Securities. Bezos's investment company, Bezos Expeditions, along with LG and Fidelity, also participated in this financing.
The startup plans to use the funds raised to build a team of engineers, invest in a global supply chain, and create large servers for training artificial intelligence to demonstrate its technologies.
To compete with NVIDIA, which provides developers with a full range of proprietary technologies that cover everything from chips to interconnects to data center layouts, Tenstorrent aims to provide better compatibility with other technology providers. The startup plans to achieve this by adopting industry standards or opening up its design to others.
In addition, Tenstorrent uses an alternative logistics project based on the open RISC-V standard. However, the company still needs to prove its competitiveness. So far, the startup has signed contracts worth about $150 million, while NVIDIA earns billions of dollars every quarter.
Tenstorrent CEO and co-founder Jim Keller says that the startup plans to release new AI chips every two years. At the same time, NVIDIA recently announced that it plans to release new chips annually.