AI startup SambaNova Systems is exploring a funding round of up to US$500 million after discussions with Intel stalled, according to sources familiar with the matter.

The company is seeking between US$300 million and US$500 million from other technology firms and semiconductor investors, with no final decision made.

Intel, which previously considered acquiring SambaNova and has its CEO Lip-Bu Tan as chairman of the startup, is reportedly evaluating the possibility of additional investment.

SambaNova, founded in 2017 by Stanford professors, designs AI chips to compete with Nvidia. It was valued at US$5 billion in a 2021 funding round led by SoftBank’s Vision Fund 2.

The company has not finalized its funding plans, and discussions with Intel may resume.

Representatives for both SambaNova and Intel declined to comment.

🔗 Source: Bloomberg