Samsung dismisses involvement in $300M funding for Tenstorrent

Samsung Electronics has expressed no intention to join a round of funding worth $300 million for Tenstorrent, led by chip expert Jim Keller.

Tenstorrent CEO Jim Keller [YONHAP]

Samsung Electronics on Friday said it is not involved in funding amounting to $300 million for the Toronto-based AI chip company Tenstorrent, helmed by renowned chip engineer Jim Keller.

"Samsung is not involved in the funding in question," a spokesperson for Samsung Electronics said to the Korea JoongAng Daily Friday.

Previously, Samsung was reported to be leading funding of $300 million for the chip designing company that was expected to boost its previous valuation of $2 billion. Korea's LG Electronics and Hyundai Motor were also reported to be participating in the round.

Hyundai and LG said they are considering but have not yet made a decision.

Keller, who is known as "legend of chips," worked for AMD, Apple, Tesla and Intel and has been involved in some major projects. He also has had close partnerships with Korean companies.

Hyundai Motor Group invested $50 million into the chiplet company last year, leading a $100 million round of funding. Samsung's venture capital arm Samsung Catalyst Fund also participated without confirming the exact amount.

Tenstorrent earlier forged a partnership with LG Electronics to co-develop processors for TVs and other electronic devices.

It also became one of the first North American AI chip designers to work with Samsung Electronics' fabrication plant in Taylor, Texas. Its Quasar chiplet is set to be produced there.

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]