Hyundai and Samsung Take the Lead in $100M Investment Round for Tenstorrent

**Partners’ Investment in Tenstorrent: Gaining Influence and Access to Advanced Technology**

**Hyundai Motor Group and Samsung Catalyst Fund Co-lead $100M Investment in Tenstorrent**

Hyundai Motor Group and the Samsung Catalyst Fund have joined forces to co-lead a $100 million investment in Tenstorrent, a Canadian-based company known for its advanced computing IP and products. As partners, both Hyundai Motor Group and Samsung plan to leverage Tenstorrent’s technology for their respective endeavors.

**Tenstorrent’s Vision and Strategic Financing**

Tenstorrent, initially a YAACC (Yet Another AI Chip Company), transformed its strategy under the leadership of Jim Keller. Keller’s vision expanded the company’s offerings to include AI accelerator technology, RISC-V IP, and products. To execute this vision, Tenstorrent required significant funding and partnerships, leading the company to attract an over-subscribed funding round.

Jim Keller and his team successfully closed a $100 million strategic financing round, with Hyundai Motor Group and Samsung Catalyst Fund leading the way. Other notable participants in the round include Fidelity Ventures, Eclipse Ventures, Epiq Capital, and Maverick Capital.

**Investors’ Perspective**

Investors are drawn to Tenstorrent due to the company’s leadership in processor design and its application of expertise in two crucial computing trends: AI and RISC-V. By becoming partner investors, they can align strategically with Tenstorrent and actively participate in the company’s operations, ensuring a deeper involvement.

Furthermore, these partner investors bring industry-specific expertise and networks to the table, which can be immensely valuable in assisting Tenstorrent in overcoming challenges and seizing opportunities. The addition of strategic partnerships with leading consumer products and automotive companies, such as LG, has further fueled Tenstorrent’s momentum.

**Quotes from Tenstorrent’s CEO and Executive Vice Presidents**

Jim Keller, CEO of Tenstorrent, expressed gratitude for the trust shown by Hyundai Motor Group and Samsung Catalyst Fund, stating, “It has been impressive watching Hyundai Motor Group become the third-largest automaker in the world through their aggressive adoption of technology, including their acquisition of Boston Dynamics, their joint venture with Motional, and now their investment in us.”

Heung-soo Kim, Executive Vice President and Head of the Global Strategy Office (GSO) at Hyundai Motor Group, highlighted the significance of Tenstorrent’s high-performance AI semiconductors, stating that they will help the group secure competitive technologies for future mobilities.

Marco Chisari, EVP of Samsung Electronics and Head of Samsung Semiconductor Innovation Center, shared Samsung Catalyst Fund’s belief in investing in disruptive ideas that can change the world. He emphasized Tenstorrent’s industry-leading technology, executive leadership, and ambitious roadmap as motivating factors for co-leading this funding round.

**A New Era for Tenstorrent and the AI Semi Industry**

Tenstorrent’s offering of RISC-V, AI, and combined CPU/Accelerator technologies positions the company at the forefront of a nascent ecosystem. The growing interest in RISC-V as an alternative to Arm, along with Tenstorrent’s agility and expanding IP portfolio, presents vast opportunities for the company.

This partnership with Hyundai and Samsung marks a shift in the AI semiconductor industry’s approach. Instead of purchasing standalone accelerator chips to compete with NVIDIA, large conglomerates are choosing to license advanced IP from Tenstorrent and build their own customized hardware solutions for specific use cases. The utilization of chiplets is enabling the creation of high-performance domain-specific SOCs.

**Conclusion**

Through the strategic investment by Hyundai Motor Group and Samsung Catalyst Fund, Tenstorrent has secured the funding and partnerships necessary to drive its grand vision forward. With the support of these partner investors, along with their expertise and networks, Tenstorrent is well-positioned to navigate challenges, seize opportunities, and reshape the AI and CPU competitive landscape.

Disclaimer: The opinions expressed in this article are solely those of the author and should not be considered as advice for purchasing or investing in the companies mentioned. Cambrian AI Research, an AI consultancy firm, provides services to multiple semiconductor firms and holds no investment positions in any of the companies mentioned. For more information, visit their website at https://cambrian-ai.com/.