Intel (INTC) is taking part in a $350 million funding round for AI chip startup SambaNova Systems and is also forming a partnership with the company.
SambaNova Systems raised $350 million in strategic Series E financing to expand manufacturing and cloud capacity, with new investors including Vista Equity Partners, Cambium Capital, Intel Capital, Battery Ventures, and accounts advised by T. Rowe Price Associates.
The AI hardware and software company said SoftBank Corp. (SFTBY) will be the first customer to deploy SN50 within its next‑generation AI data centers in Japan. The SN50 delivers five times more compute per accelerator and four times more network bandwidth than the previous generation, the company added.
Intel, whose CEO Lip-Bu Tan also serves as SambaNova’s executive chairman, had previously discussed buying the startup for about $1.6 billion, including debt, Reuters reported earlier.