Tenstorrent raises nearly $700 million in a Series D round that values the AI hardware company at more than $2.6 billion.

Through his venture capital firm, Jeff Bezos has invested in Tenstorrent. The AI chip startup is focused on developing more affordable solutions. In a market

Tenstorrent, the company vying to compete with Nvidia is now valued at $2.6 billion after Jeff Bezos joined Samsung in a $700m bet on the startup.

Amazon.com Inc. founder Jeff Bezos joined Samsung in a $700 million bet on Tenstorrent, valuing the AI chip startup with ambitions of taking on Nvidia Corp. at about $2.6 billion.

Tenstorrent is also a proponent of an alternative kind of logic processor based on an open standard called RISC-V, which poses a challenge to Arm Holdings Plc.

Amazon.com founder Jeff Bezos has joined forces with Samsung to invest $700 million in Tenstorrent, an AI chip startup.

Tenstorrent, which hopes to create a chip to try and break Nvidia’s stranglehold on the AI business, raised capital in a funding round led by South Korea’s AFW Partners and Samsung Securities, founder and semiconductor pioneer Jim Keller said in an interview.

Billionaire Jeff Bezos is throwing his weight behind a computing company that’s coming for Nvidia’s (NVDA) dominance of the artificial intelligence chip market.

The new investment will help Tenstorrent to build an engineering team, invest in its global supply chain and build large artificial intelligence training servers.