S. Korea's Hyundai Motor To Invest In AI Chip Startup

SEOUL, Aug. 3 (UrduPoint / Pakistan Point News - 3rd Aug, 2023 ) --:South Korea's Hyundai Motor Group said Thursday that it will make a strategic investment in Tenstorrent, an artificial intelligence (AI) semiconductor startup company.

Hyundai Motor Company and Kia Corp. will invest a combined 50 million U.S. Dollars in the Canada-based company, making the group a lead investor in Tenstorrent's latest funding round amounting to 100 million dollars.

The group said in a statement that the investment will be used to accelerate Tenstorrent's design and development of AI chiplets and its machine learning (ML) software roadmap.

The newly developed high-performance semiconductors will be applied to central processing units (CPU) and neural processing units (NPU) for future vehicles and mobility solutions, it noted.

Earlier this year, Hyundai launched its semiconductor development unit dedicated to customized chip development for its vehicles in a bid to strengthen chip capability through strategic collaborations with external partners.