Manager, Corporate Development

Tenstorrent is leading the industry on cutting-edge AI technology, revolutionizing performance expectations, ease of use, and cost efficiency. With AI redefining the computing paradigm, solutions must evolve to unify innovations in software models, compilers, platforms, networking, and semiconductors. Our diverse team of technologists have developed a high performance RISC-V CPU from scratch, and share a passion for AI and a deep desire to build the best AI platform possible. We value collaboration, curiosity, and a commitment to solving hard problems. We are growing our team and looking for contributors of all seniorities.

Tenstorrent builds AI and RISC-V compute hardware and licenses its technology to partners worldwide. The Corporate Development Manager leads workstreams across the full range of the team's work: fundraising and investor relations, mergers and acquisitions, strategic partnerships, licensing, and commercial transactions. Managers own the evaluation, structuring, negotiation, and execution of transactions, lead the analysis behind them, and represent Tenstorrent directly with partners, customers, investors, and the executive team. The role suits someone who takes on responsibility quickly, operates independently, manages and develops junior team members, and is credible in front of the C-suite.

Corporate Development is responsible for the transactions that shape Tenstorrent as a company: raising capital, acquiring or partnering with other businesses, and structuring the commercial and licensing agreements that extend the reach of its technology. The team runs Tenstorrent's equity and debt financings and its investor relations, evaluates and executes buy-side and sell-side M&A, negotiates strategic partnerships and joint development agreements, supports licensing and strategic sales, and develops government and sovereign AI programs. Counterparties include semiconductor and systems companies, data center operators, institutional and strategic investors, and government bodies in North America, Asia, and Europe.

The team reports directly to Tenstorrent's Chief Strategy Officer and works day to day with the CEO and the executive team. It is small, and every member carries real responsibility from the start.

This role is hybrid or remote, based out of Santa Clara, CA; Austin, TX; Boston, MA; Toronto, ON or New York, NY.

We welcome candidates at various experience levels for this role. During the interview process, candidates will be assessed for the appropriate level, and offers will align with that level, which may differ from the one in this posting.

Who You Are

• A leader who is comfortable managing several direct reports, delegates effectively, and manages up with equal skill. Succinct in front of senior management. You present clearly and briefly to senior internal and external audiences and you know what the decision turns on.
• Difficult to rattle and practical. You stay steady when a process does not go to plan, you have common sense, and you get things done even when the problem does not sit with your team or in your job description. Able to operate independently and run a workstream without close direction.
• A natural networker who is at ease working a room, speaking to large groups, pitching Tenstorrent, and closing. Credible in client-facing settings and comfortable leading conversations with partners, customers, and investors, and willing to travel when a deal requires it.
• Analytically strong, with sound commercial judgment and the ability to turn analysis into decisions. Serious about the work and good company while doing it. You can take a joke and make one, then put your head down and finish the job.
• Knowledgeable about, or eager to learn, the semiconductor, data center, and AI markets, with a genuine passion and interest in technology.

What We Need

• Own deal workstreams from evaluation through negotiation and execution across fundraising, M&A, strategic partnerships, licensing, and commercial transactions. Lead due diligence processes, data rooms, and transaction execution with internal teams and external advisers.
• Lead the analysis and modeling behind each transaction, including pro forma M&A scenarios, financing alternatives, partnership and licensing economics, and business cases, using discounted cash flow, comparable company, and precedent transaction methods. Analyze counterparties' financial statements, filings, projections, and operating data and form a clear view on value and risk.
• Build business cases and structure commercial terms with partners, customers, and investors, and negotiate term sheets and definitive documentation alongside counsel. Develop and manage relationships across the AI, semiconductor, and data center ecosystem and with investors and advisers.
• Prepare board, investor, and executive materials on strategic alternatives, capital raising, competitive positioning, and partnership economics, and present findings directly to the CEO, CSO, and executive team. Lead investor and partner roadshows and executive meetings alongside senior leadership.
• Coordinate engineering, product, sales, legal, and finance teams on live transactions, and manage and develop junior members of the team.

What You Will Learn

• How a private AI hardware company raises capital and manages its investor base through successive rounds.
• How high-value partnership, licensing, and M&A transactions are structured, negotiated, and closed.
• The competitive and economic dynamics of the AI hardware, semiconductor, and data center markets.
• What it takes to own a deal and a counterparty relationship end to end.
• Direct exposure to executive decision-making and corporate strategy.

Compensation for all engineers at Tenstorrent ranges from $100k - $500k including base and variable compensation targets. Experience, skills, education, background and location all impact the actual offer made.

Tenstorrent offers a highly competitive compensation package and benefits, and we are an equal opportunity employer.

This offer of employment is contingent upon the applicant being eligible to access U.S. export-controlled technology.  Due to U.S. export laws, including those codified in the U.S. Export Administration Regulations (EAR), the Company is required to ensure compliance with these laws when transferring technology to nationals of certain countries (such as EAR Country Groups D:1, E1, and E2).   These requirements apply to persons located in the U.S. and all countries outside the U.S.  As the position offered will have direct and/or indirect access to information, systems, or technologies subject to these laws, the offer may be contingent upon your citizenship/permanent residency status or ability to obtain prior license approval from the U.S. Commerce Department or applicable federal agency.  If employment is not possible due to U.S. export laws, any offer of employment will be rescinded.