• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Samsung and Jeff Bezos support Tenstorrent in the battle against Nvidia

user avatar

by Giorgi Kostiuk

2 years ago

Tenstorrent, the company seeking to compete with Nvidia, received $700 million in investment from Amazon founder Jeff Bezos and South Korean giant Samsung.

Tenstorrent Development

Tenstorrent has attracted significant investments, marking a notable development in the AI industry. The funding round was led by South Korea’s AFW Partners and Samsung Securities, aimed at capital generation for creating a chip to compete with Nvidia in the AI market.

Competition with Nvidia

Founder Jim Keller stated that Tenstorrent plans to use the funding to expand its engineering team and enhance its global supply chain. The company aims to develop more energy-efficient and cost-effective solutions, differentiating itself from Nvidia’s expensive technology.

Open source helps you build a bigger platform. It attracts engineers, and yes, it’s a little bit of a passion project.Jim Keller

Prospects and Plans for Tenstorrent

The company plans to release new AI processors every two years, while Nvidia updates its chips annually. Tenstorrent collaborates with major companies, including LG and TSMC, and is planning further investments to transition to 2-nanometer technology.

Funding from major players like Samsung and Jeff Bezos may help Tenstorrent strengthen its market position in AI, despite Nvidia's dominance.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

SEC Proposal May Open Doors for Tokenized Stocks

chest

The SEC's recent proposal may simplify compliance for on-chain trading systems, potentially facilitating the development of tokenized stocks.

user avatarSatoshi Nakamura

SEC Proposes Changes to Regulation NMS Rules Impacting Equity Markets

chest

The SEC has proposed rescinding two key Regulation NMS rules, Rule 611 and Rule 610e, to simplify the equity market structure and reduce trading complexity.

user avatarJesper Sørensen

Regulatory Scrutiny Poses Risks for Alphabet

chest

Alphabet faces increasing regulatory scrutiny that could impact its business operations and stock performance.

user avatarLucas Weissmann

Warren Buffett's Berkshire Hathaway Invests in Google Stock

chest

Berkshire Hathaway has made a significant investment in Google stock, purchasing shares at the price of 351.81. This move indicates confidence in the company's future and may signal to other investors that now could be a good time to buy Google stock.

user avatarRajesh Kumar

Coinbase Introduces New Editorial Standards

chest

Coinbase has announced a new editorial policy that emphasizes accuracy, relevance, and impartiality in its content.

user avatarFilippo Romano

Kraken's Perpetual Futures to Include Major Crypto Assets

chest

Kraken's upcoming perpetual futures will feature a diverse lineup of major crypto assets, including Bitcoin, Ethereum, Solana, XRP, Cardano, Chainlink, Dogecoin, Litecoin, and Avalanche.

user avatarEmily Carter

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.