Is this startup the next Nvidia? Samsung, LG and billionaire Jeff Bezos are all investing in it; here's what it is doing to become the next AI powerhouse

It does not usually happen that Samsung, LG and Jeff Bezos put their heads together to back a certain company, but in the case of Tenstorrent, a startup computing company, all of them have put in their efforts and money so that this new startup can build affordable AI chips and processing and rival Nvidia, which is also operating on similar lines.

Are Nvidia's rivals backing Tenstorrent?

It is understandable that Samsung, Jeff Bezos and LG will be looking at taking down the tech giant Nvidia, by backing a rival startup company producing similar products, but it is yet to be understood how effective Tenstorrent would be as a company against Nvidia, a company that has a massive production scale and billions in valuation.

Also Read: Son and daughter of legendary comedic actors announce engagement; who are they? Here are all details as fans go in shock

Is Tenstorrent's valuation increasing by the minute?

There is some great amount of hope for Tenstorrent, as it nearly garnered $700 million through investors like Samsung, Bezos Expeditions, and LG Electronics, which is a great sign for the company, looking at the fact that the company's valuation is now standing at about $2.6 billion, as per a Bloomberg report. Although Nvidia is far ahead in this AI chip development race, having planing its R&D for years, Tenstorrent, if backed by the right horses, will be not very far away from its competitor. Reports suggest that there some more investors in line for the further funding rounds to be hosted by Tenstorrent, which would drive up its valuation even more.

Also Read : Iconic AC/DC announces first U.S shows in 9 years; here are location, venues, dates and all details

FAQs:

What does Tenstorrent do?
Tenstorrent is a semiconductor company focused on developing AI acceleration chips. These chips are designed to significantly speed up the training and inference processes of AI models,

Are Tenstorrent and Nvidia rival companies?
Yes, Tenstorrent and Nvidia are considered rival companies in the AI chip market. Both companies are developing advanced chips designed to accelerate AI workloads, particularly in areas like machine learning and deep learning.