AI chip company Tenstorrent has raised $100 million from investors including Hyundai Motor Group, Kia, and a Samsung investment fund.
The investment in the AI and RISC-V startup was structured as a debt that will convert to stock at a later date. Tenstorrent will not formally have a new valuation until it holds another round of equity fundraising, which the company said it plans to do next year.
Prior to the deal, Tenstorrent had already raised $234.5m to date with a valuation of $1 billion in its last round.