"Through a non-binding agreement, Intel is about to acquire SambaNova Systems. The latter is an AI chip company where current Intel CEO Lip-Bu Tan has been chairman since May 2024. However, the estimated value of the deal is lower than SambaNova's latest valuation, falling below $5 billion. That valuation dates back to 2021, when SambaNova last conducted an investment round. Intel Capital is already an investor in the company, reports Wired, which was the first to highlight the current progress of the negotiations."
"Two sources with direct knowledge of the matter confirm to Wired that Intel and SambaNova have signed a letter of intent. This means that the deal is not yet finalised. It could take weeks or even months before all legal procedures, liability issues and financial checks have been completed. Bloomberg reported in late October that Intel was in talks with SambaNova about a possible acquisition."
"The intertwined nature of the two companies is also evident in the fact that SoftBank, an Intel investor, also has money invested in SambaNova. SambaNova Systems was founded in 2017 in Palo Alto, California, by Kunle Olukotun, Rodrigo Liang, and Christopher Ré. Olukotun and Ré are professors at Stanford; Liang previously worked as a senior manager at Oracle. The company makes an AI chip platform for inference computing, the process by which large language models make predictions based on enormous amounts of data."
Intel and SambaNova Systems have signed a non-binding letter of intent for an acquisition that values SambaNova below its April 2021 $5 billion valuation. The agreement is not final and could take weeks or months to complete while legal procedures, liability issues, and financial checks proceed. Intel CEO Lip-Bu Tan serves as SambaNova’s chairman, and Intel Capital is an investor; SoftBank also has invested in SambaNova. SambaNova was founded in 2017 in Palo Alto by Kunle Olukotun, Rodrigo Liang, and Christopher Ré. The company develops an AI chip platform for inference computing and had raised $1.14 billion by early 2025.
Read at Techzine Global
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