Tenstorrent Reels in Whopping $693 Million led by Samsung

<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">SANTA CLARA<&sol;span><&sol;span><&sol;strong> &&num;8212&semi; Tenstorrent is announcing that it has closed over <span class&equals;"xn-money">&dollar;693 million<&sol;span> in its Series D funding round at a pre-money valuation of <span class&equals;"xn-money">&dollar;2 billion<&sol;span>&period;   Samsung Securities and AFW Partners led the round&comma; which was oversubscribed due to strong demand from investors&period; Samsung and AFW both have deep relationships with Tenstorrent&comma; and a strong history of investing in pioneering technology companies&period;<&sol;p>&NewLine;<p>In addition to the leads&comma; many notable investors joined the round including XTX Markets&comma; Corner Capital&comma; MESH&comma; Export Development Canada&comma; Healthcare of Ontario Pension Plan&comma; LG Electronics&comma; Hyundai Motor Group&comma; Fidelity Management &amp&semi; Research Company&comma; Baillie Gifford&comma; Bezos Expeditions&comma; and more&period;<&sol;p>&NewLine;<p>&&num;8220&semi;We are excited by the breadth of investors that believe in our vision&comma;&&num;8221&semi; said <span class&equals;"xn-person">Keith Witek<&sol;span>&comma; Chief Operating Officer of Tenstorrent&period;   &&num;8220&semi;If you look at this group&comma; you see a balance of financial investors and strategic investors&comma; as well as some notable individuals that have conviction in our plans for AI&period;  They respect our team&comma; our technology&comma; and our vision&period;  They see the <span class&equals;"xn-money">~&dollar;150M<&sol;span> in deals closed as a strong signal of commercial traction and opportunity in the market&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Tenstorrent builds and sells computers for artificial intelligence that are built using its Tensix cores&period;   In addition to selling hardware&comma; the open-source software stacks really set Tenstorrent apart from other players in the market&period; Tenstorrent licenses AI and RISC-V intellectual property to customers that want to own and customize their silicon&period;<&sol;p>&NewLine;<p>Tenstorrent will use the Series D funding to build out open-source AI software stacks&comma; hire developers&comma; expand its global development and design centers&comma; and build systems and clouds for AI developers&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Our investors are great&comma;&&num;8221&semi; said <span class&equals;"xn-person">Jim Keller<&sol;span>&comma; CEO of Tenstorrent&period;  &&num;8220&semi;During the fundraising process I was impressed by how interested our investors were in our open-source approach to software&period;  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&period; &&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;AFW Partners is dedicated to investing in innovative and disruptive technologies that we believe will change the world&comma; with a specific focus on mobility innovation&comma;&&num;8221&semi; said Bonil Koo&comma; Managing Director at AFW Partners&comma; who leads the Series D round with Samsung Securities&period; &&num;8220&semi;Tenstorrent&&num;8217&semi;s momentum in the market&comma; its innovative roadmaps filled with cutting edge technology&comma; and open-source software are an unbeatable combination&period; We are thrilled to participate in their journey and success&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;We find Tenstorrent&&num;8217&semi;s open-source driven approach refreshing&comma; especially in the proprietary and often secretive world of AI accelerators&comma;&&num;8221&semi; said <span class&equals;"xn-person">Joshua Leahy<&sol;span>&comma; Chief Technology Officer&comma; XTX Markets&period;  &&num;8220&semi;We&&num;8217&semi;re excited to support them as they bring their ambitious roadmap to market&period;&&num;8221&semi;<&sol;p>&NewLine;