Tenstorrent has acquired Blue Cheetah Analog Design, integrating the startup’s expert team and chiplet interconnect IP into its in‑house capabilities, advancing its strategy for high‑performance AI hardware.
The Canadian‑based AI chipmaker announced on 1 July 2025 that it has secured Blue Cheetah, a Sunnyvale‑headquartered innovator specialising in analog and mixed‑signal IP for chiplet designs. The move brings Blue Cheetah’s BlueLynx die‑to‑die interconnect subsystem—compatible with Open Compute Project’s Bunch of Wires and Universal Chiplet Interconnect Express standards—directly under Tenstorrent’s control.
Blue Cheetah, founded in 2018 and backed by Marvell luminaries Dr Sehat Sutardja and Weili Dai, has established a reputation for delivering customizable interconnect IP across various foundries and nodes. The startup’s executive and engineering teams are led by co‑founder and CEO Dr Elad Alon, a recognised expert in analog/mixed‑signal design and technical lead for the Bunch of Wires PHY standard.
According to Tenstorrent CEO Jim Keller, the acquisition will “accelerate our chiplet vision of creating an open chiplet ecosystem, with open interconnects optimised for each specific chiplet socket”. Bringing critical analog capabilities in‑house is expected to enhance performance and efficiency in AI systems, especially as chiplet architectures gain prominence in scaling compute workloads.
Dr Alon stated that Blue Cheetah had long collaborated with Tenstorrent as a customer and partner, and the merger will allow them to amplify their impact on chiplet ecosystems worldwide.
This deal marks Tenstorrent’s first semiconductor acquisition in the United States, and builds on its previous licensing agreement with Blue Cheetah for die‑to‑die interconnect technology in its AI and RISC‑V chiplet solutions. Analysts suggest that this vertical integration provides Tenstorrent with tighter control over its interconnect IP roadmap, reducing dependency on external vendors and improving time‑to‑market for future designs.
Tenstorrent’s global operations span offices in Austin, Silicon Valley, Toronto, Belgrade, Seoul, Tokyo and Bangalore, supported by investors including Eclipse Ventures, Samsung Catalyst Fund and Hyundai Motor Group. Blue Cheetah’s integration deepens those ties, offering advanced analog interconnect capabilities critical to chiplet‑based AI and high‑performance computing platforms.
Industry observers highlight the timing of the acquisition as significant. As demand grows for modular chiplet architectures—driven by the escalating compute requirements of AI workloads—having proprietary, standards‑compliant interconnect IP in‑house may enable Tenstorrent to lead in chiplet performance and ecosystem development. Their strategy aligns with Open Compute Project’s push for interoperable chiplet interfaces, signalling potential influence on emerging chiplet standards.
The hardware industry continues to shift from monolithic to chiplet‑driven designs, balancing energy efficiency, yield, and scalability. Tenstorrent’s move mirrors broader efforts among AI‑hardware firms to secure key IP layers critical to end‑to‑end system performance. The Blue Cheetah team brings deep expertise in D2D, DDR, SerDes and physical‑link design—capabilities that are increasingly rare and valuable.”
Dr Alon shared on LinkedIn that the integration of Blue Cheetah’s team into Tenstorrent reflects a shared vision to “build simple and comparable chiplet ecosystems,” noting the appreciation extended to partners, investors and employees as they embark on this “tremendous impact” together.
