Artificial intelligence chip startup SambaNova Systems is evaluating raising up to $500 million after talks to sell to Intel Corp. (INTC) stalled.
SambaNova is looking to raise $300 million to $500 million from other tech companies and semiconductor makers, along with other investors, according to a Bloomberg report on Wednesday, which cited people familiar with the matter.
Intel is deciding whether to make additional investments in the startup, according to the report. Intel (INTC) CEO Lip-Bu Tan serves as chairman of Palo Alto, California-based SambaNova, which designs custom AI chips in a market dominated by Nvidia (NVDA).
Bloomberg reported last month that Intel (INTC) was in advanced discussions with privately owned SambaNova to acquire the AI chip startup for roughly $1.6 billion, including debt.
Intel and SambaNova declined to comment to Bloomberg.