Tenstorrent Series D Funding Round: Samsung, Bezos Expeditions, and Hyundai Back Tenstorrent’s $693 Million Funding

Tenstorrent Series D Funding Round: AI Pioneer Attracts Major Investors in Oversubscribed Series D

With a $2 billion pre-money valuation, Tenstorrent is announcing that it has closed more than $693 million in its Series D funding round. The transaction, managed by Samsung Securities and AFW Partners, was oversubscribed as a result of high investor demand. Apart from the leads, several prominent investors participated in the round, including Bezos Expeditions, LG Electronics, Hyundai Motor Group, Fidelity Management & Research Company, Baillie Gifford, XTX Markets, Corner Capital, MESH, Export Development Canada, Healthcare of Ontario Pension Plan, and more.

We are excited by the breadth of investors that believe in our vision. If you look at this group, you see a balance of financial investors and strategic investors, as well as some notable individuals that have conviction in our plans for AI. They respect our team, our technology, and our vision. They see the ~$150M in deals closed as a strong signal of commercial traction and opportunity in the market.

Keith Witek, Chief Operating Officer of Tenstorrent

Tenstorrent’s Open-Source AI Approach Draws Investor Support in $693M Series D

Tensix cores are used by Tenstorrent to create and market artificial intelligence computers. Not only does Tenstorrent sell hardware, but it also stands apart from the competition due to its open-source software stacks. For clients who wish to own and modify their silicon, Tenstorrent licenses RISC-V and AI intellectual property. With the Series D funding, Tenstorrent will grow its global development and design centers, hire developers, establish systems and clouds for AI developers, and roll out open-source AI software stacks.

Our investors are great. During the fundraising process I was impressed by how interested our investors were in our open-source approach to software. They realize that the way to win is to get developers on board by giving them all the tools they need to own their own technology.

Jim Keller, CEO of Tenstorrent

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