AI chip firm Tenstorrent raises $100 million from Hyundai, Samsung

Jim Keller, CEO of Canadian AI Computing Startup Tenstorrent, and Heung Soo Kim, Executive Vice President and Head of Global Strategy office at Hyundai Motor, pose for a picture in Santa Clara, California, U.S., in this undated handout photo provided on August 2, 2023. Courtesy of Tenstorrent /Handout via REUTERS

(Reuters) - Tenstorrent, a Canadian startup headed by chip industry veteran Jim Keller that is developing artificial intelligence chips, said on Wednesday it has raised $100 million from Hyundai Motor Group and a Samsung investment fund, among others.

Tenstorrent, which before this funding had already raised $234.5 million was valued at $1 billion, is one of several upstarts looking to challenge Nvidia, the market leader in supplying chips to develop artificial intelligence products like ChatGPT.