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AI and RISC-V chip company Tenstorrent raises $100m from Hyundai, Kia, and Samsung

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.

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