(RTTNews) - Intel Corp. (INTC) is in advanced negotiations to acquire SambaNova Systems, an AI chip startup based in Palo Alto, for approximately US$1.6 billion including debt, Bloomberg reported citing people familiar with the matter.
The deal could be finalized as early as next month, though terms and timing remain subject to change.
Founded in 2017 by Stanford professors, SambaNova designs custom AI chips and was previously valued at US$5 billion during a 2021 funding round. Intel CEO Lip-Bu Tan also serves as chairman of SambaNova, and his venture firm Walden International was among the company's early investors.
Despite the acquisition talks, SambaNova has signed term sheets with other potential investors and may still consider alternatives to a sale, the report said.
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