Tenstorrent Supported by Samsung, LG, and Hyundai Motor to "Further Strengthen Momentum in Korea"

Semiconductor Legend Jim Keller's Founded
Semiconductor Design Startup
Raises $693 Million in Series D Funding Round

Canadian artificial intelligence (AI) startup Tenstorrent, which received nearly $700 million in generous support from our companies, emphasized its long-standing ties with South Korea and announced plans to cooperate more closely.

Last month, Jim Keller, CEO of Tenstorrent, visited South Korea and met with Cho Joo-wan, CEO of LG Electronics, to discuss cooperation. Photo by LG Electronics

David Bennett, Chief Customer Officer (CCO) of Tenstorrent, said in an investment-related company briefing on the 4th, "We are very pleased that prominent Korean investors such as Samsung Securities and AF W Partners are leading this round, and strategic partners like LG and Hyundai Motor Company are joining again. Tenstorrent has a deep history with Korea, and this funding round will further strengthen Tenstorrent's momentum in Korea based on many partners' trust in our ongoing commitment and vision for Korea."

According to foreign media and industry sources on the day, Tenstorrent received a 'Series D funding round' led by Samsung Securities and AF W Partners, with participation from Samsung, LG Electronics, Hyundai Motor Group, and Dongwoon Anatech. The fund amounts to $693 million (approximately 980.5 billion KRW). Although Samsung and LG Electronics have collaborated with Tenstorrent in the past, this is their first investment. In addition to our companies, Expedition, the investment firm of Amazon founder Jeff Bezos, and U.S. financial company Fidelity also participated.

Tenstorrent stated that it plans to use the investment to "accelerate the development of open-source AI software stacks, hire developers, expand global development and design centers, and build systems and cloud infrastructure for AI developers." An industry insider said, "It seems they will first focus on securing the necessary personnel for their branches worldwide."

Tenstorrent is a semiconductor design specialized (fabless) startup founded in 2016 by Jim Keller, known as a 'semiconductor legend,' and is challenging Nvidia's dominance in the AI chip market. In particular, it supports customers in designing and owning their own customized silicon by licensing AI and RISC-V intellectual property (IP).