• 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

a year 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

HYPE Token Experiences Major Price Surge Amid Market Trends

chest

HYPE token has surged over 65% year-to-date and nearly 200% over the past year, reflecting strong market performance amid uncertainties.

user avatarLucas Weissmann

Bitwise Moves Closer to Launching Spot Hyperliquid ETF

chest

Bitwise has filed a second amendment with the SEC for its spot Hyperliquid ETF, adding new trading counterparties ahead of its launch.

user avatarRajesh Kumar

Bitcoin Price Rally Sparks Hope for Bullish Rebound

chest

Bitcoin recently traded as high as 73,000, indicating a potential bullish rebound despite being in a bear phase for over six months.

user avatarFilippo Romano

Bitcoin Price Slips Below 73,000 Amid Changing Investor Sentiment

chest

Bitcoin price dipped below 73,000 as investors adjust their exposure amid inflation concerns.

user avatarEmily Carter

Wall Street Firms Build Infrastructure for Institutional DeFi

chest

Wall Street firms are building infrastructure for institutional DeFi, processing over $8 trillion in tokenized repo settlements and enabling on-chain governance for tokenized equity.

user avatarTomas Novak

Ethereum Emerges as Leader in Tokenizing Real-World Assets

chest

Ethereum is becoming the leading platform for tokenizing traditional assets, with significant institutional investment.

user avatarKaterina Papadopoulou

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.