Intel is participating as an existing backer in a new funding round for AI chip startup SambaNova Systems. SambaNova competes directly with market leader Nvidia.
The oversubscribed Series E round is led by private equity firm Vista Equity Partners. The total funding round exceeds $350 million.
Intel plans to invest approximately $100 million, according to Reuters sources. The commitment could potentially increase to $150 million.
This investment supports Intel’s strategy to bolster its position in the rapidly growing AI computing market. SambaNova will use the capital to meet increasing demand for its inference chips, which are utilized in various AI applications.