• 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

David Schwartz Clarifies His Position on XRP Holdings

chest

Former Ripple CTO David Schwartz clarified that his primary exposure to the cryptocurrency sector is now through Ripple stock rather than XRP, having significantly reduced his XRP holdings.

user avatarAyman Ben Youssef

Crypto Analyst Predicts BNB Price Could Reach $12,000

chest

Crypto analyst Crypto Patel predicts BNB price could reach $12,000 based on technical analysis and developments in the BNB Chain.

user avatarTando Nkube

Apple Achieves Record Revenue with Strong iPhone Sales

chest

Apple reports record revenue for the March quarter, driven by a 21% increase in iPhone sales to $57 billion and a 16% growth in services revenue to $31 billion.

user avatarKofi Adjeman

Bank of America Increases Apple Stock Price Target to $330

chest

Bank of America has raised its price target for Apple stock from $325 to $330, maintaining a Buy rating after the company reported its best March quarter on record.

user avatarNguyen Van Long

Franklin Templeton Partners with Ondo Finance for Blockchain Access

chest

Franklin Templeton has partnered with Ondo Finance to enable blockchain access for trading ETFs directly from crypto wallets, removing traditional investment barriers.

user avatarSatoshi Nakamura

GSR Welcomes SC Ventures as Its First External Shareholder

chest

GSR has announced that SC Ventures has become its first external shareholder, marking a significant milestone in the company's history.

user avatarJesper Sørensen

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.