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Chip startup Tenstorrent has achieved a key milestone with its latest funding: Unicorn status.
But the company, which is designing specialized chips for running artificial intelligence applications, still has a long way to go to outpace its rivals and capture a significant share of what's expected to be a huge market.
Earlier this week, Tenstorrent announced that it raised $200 million from a group of investors led by Fidelity Management and including Eclipse Ventures, Epic CG, and Moore Capital. The deal valued five-year-old company at $1 billion, the threshold at which a startup can claim so-called unicorn status.
