Samsung Securities and AFW Partners (AFWP) have co-led a $693 million Series D investment in Tenstorrent, a Canadian company specializing in AI computing. The funding round also saw participation from major players such as LG Electronics, Hyundai Motor Group, and Dongwoon Anatech, alongside several domestic investors. Global investment firms, including Bezos Expeditions and Baillie Gifford, were also part of the round.

Tenstorrent designs and sells AI computing systems powered by its proprietary Tensix core. The company stands out by offering an open-source software stack alongside its hardware products. Additionally, Tenstorrent licenses AI and RISC-V intellectual property (IP), enabling customers to create and own custom silicon solutions.

The Series D funding will support Tenstorrent’s efforts to accelerate the development of its open-source AI software stack, expand its global design and development centers, hire additional talent, and build systems and cloud platforms tailored for AI developers.

“We’re delighted to have leading Korean investors like Samsung Securities and AFWP driving this round, along with strategic partners such as LG Electronics and Hyundai Motor Group,” said David Bennett, Chief Customer Officer of Tenstorrent. “Our company has a long history with Korea, and this funding reflects the trust and confidence our partners have in Tenstorrent’s vision and ongoing commitment to the region. We look forward to further strengthening our presence in Korea.”

Koo Bon-il, Managing Director of AFWP, highlighted the firm’s focus on innovative and disruptive technologies. “Tenstorrent’s strong market momentum, cutting-edge roadmap, and dedication to open-source software create an unmatched combination. We’re excited to support their journey and future success,” he said.