SambaNova Systems completed the first close of a $1 billion Series F funding round. This financing brings the company's valuation to $11 billion.
General Atlantic led the investment. New and existing investors including Intel Capital, BlackRock, and T. Rowe Price Associates also participated.
JPMorgan Chase selected SambaNova as an AI infrastructure partner. The financial institution will deploy SN40 and SN50 systems to power on-premise AI inference workloads.
SambaNova will use the new capital to scale deployments and expand capacity. The funds will also support ongoing product innovation.