AI Chip Startup Tenstorrent Is Said to Draw Interest From Rivals

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.

The Santa Clara, California-based company has been speaking to investment banks about evaluating its options, the people said, asking not to be identified because the matter is private. Other chip companies could also ...