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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Central Bank of Ireland Imposes Fine on Coinbase Ireland Limited

On October 22, 2023, the Central Bank of Ireland fined Coinbase Ireland Limited 3,252,618 euros for breaches of safeguarding and outsourcing obligations.

user avatarNguyen Van Long

HashKey RWA Introduces First Product in hToken Series

HashKey RWA has launched its first product in the hToken series, aimed at standardizing the issuance of tokenized securities for traditional financial institutions.

user avatarSatoshi Nakamura

Coinbase Announces Discontinuation of GYEN Stablecoin Support

Coinbase has announced the discontinuation of support for the yen-linked GYEN stablecoin as its issuer, GMOZcom Trust Company, retires the product.

user avatarJesper Sørensen

Hong Kong Approves Secondary Trading for Tokenized Money Market Funds

Hong Kong Securities and Futures Commission approves secondary trading for two tokenized money market funds, enhancing trading opportunities and liquidity.

user avatarRajesh Kumar

Bitmine Immersion Technologies Reports Significant Ethereum Holdings

Bitmine Immersion Technologies has filed an update with the SEC revealing significant Ethereum holdings of approximately 605 million ETH and total investments around $15 billion.

user avatarLucas Weissmann

Stellar's Bell Upgrade Introduces Key Infrastructure Enhancements

Stellar's Bell upgrade introduces significant infrastructure improvements, including muxed contract addresses and support for post-quantum signature verification.

user avatarMaya Lundqvist

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.