Intel and Qualcomm have expressed early takeover interest in AI chip startup Tenstorrent. Sources familiar with the matter indicate a potential deal could value the Toronto-founded company at more than $5 billion.
Tenstorrent designs high-performance AI processors and licenses intellectual property for data centers. The company positions itself as a direct competitor to market leader Nvidia. Renowned chip architect Jim Keller leads the firm.
The startup has raised over $1 billion in total funding. Investors valued the company at $2.6 billion during its last funding round in late 2024.
An acquisition would provide Intel or Qualcomm with advanced chiplet technology and RISC-V innovations. These assets would strengthen their competitive positions in the expanding AI hardware market.