The global AI chips market has doubled in value since 2021 to around $21.9 billion and will be worth around $127.8 billion, according to Insights Partners. That’s a 600% growth in five years.
How can tech companies keep up with the rapidly-evolving AI and semiconductor race?

For Canadian tech startup Tenstorrent, the answer seems to be collaboration as it continues to forge partnerships with various global players.
In August 2023, the Canadian AI chip manufacturer announced that it had raised $100 million in a round led by Hyundai Motor Group and Samsung Catalyst Fund, a corporate venture capital arm of Samsung Electronics
“The trust in Tenstorrent shown by Hyundai Motor Group and Samsung Catalyst Fund leading our round is truly humbling," said Tenstorrent CEO Jim Keller.
And in an interview with ZDNET, Keller highlighted Hyundai's forward-thinking approach: "They are a technology leadership company. They are making money and investing it in technology because they see a path to building next-generation products with AI.”
Further cementing its growth, Tenstorrent inked yet another international partnership in October, this time with BOS Semiconductors, a South Korean automotive semiconductor startup. Together, the two tech companies want to develop System-on-Chip (SoC) semiconductors tailored for automobile and automobile part manufacturers.
According to BOS Semiconductors CEO Jaehong Park, the collaboration with Tenstorrent will lead to the development of low-power and high-performance AI chips that will improve the processing speed, accuracy, and power efficiency of cars.
Tenstorrent's strategic alliances underscore its commitment to innovation and collaboration.
By partnering with industry leaders, the company strengthens its technological capabilities and shapes the future of AI-driven applications.
"With Tenstorrent's dedication to exploring the unknown and transforming possibilities into reality, the company has positioned itself to continue its transformative journey and leave its own mark on the world of AI and semiconductors,” Keller said.