AI Chip Startup Tenstorrent Draws Takeover Interest From Intel, Qualcomm

Artificial intelligence chip startup Tenstorrent Inc. is drawing early takeover interest from prospective buyers at a moment of renewed momentum for upstarts looking to challenge Nvidia Corp. and Advanced Micro Devices Inc.

Tenstorrent, which designs chips that it says are more efficient at running certain AI workloads, has held conversations with industry players including Intel Corp. and Qualcomm Inc., according to people familiar with the matter.