Amazon.com Inc. founder Jeff Bezos joined Samsung in a $700 million bet on Tenstorrent, valuing the AI chip startup with ambitions of taking on Nvidia Corp. at about $2.6 billion.

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

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.