Tenstorrent, the company vying to compete with Nvidia is now valued at $2.6 billion after Amazon founder Jeff Bezos joined South Korean tech giant Samsung in a $700 million bet on the AI chip startup.

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

AI chip startup Tenstorrent has secured $700 million in funding to challenge industry giant Nvidia. Tenstorrent gets $700 million to bolster AI tech and challenge Nvidia’s dominance in the chip industry. The funding round, backed by Amazon founder Jeff Bezos and Samsung, values the company at $2.6 billion, according to Bloomberg News.

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.

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.

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

Amazon.com founder Jeff Bezos joined Samsung in a $700 million bet on Tenstorrent, valuing the AI chip startup with ambitions of taking on Nvidia at about $2.6 billion. Tenstorrent, which hopes to create a chip to try and break

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.