July 8 (Reuters) – AI chip startup SambaNova said on Wednesday it has raised $1 billion in a late-stage funding round led by General Atlantic at an $11 billion post-money valuation.
The company makes custom chips, hardware systems and cloud services tailored for inference – the process by which models respond to user queries.
Here are some details:
• The Series F round included significant investment from Seligman Ventures, T. Rowe Price Associates and Capital Group.
• New and existing investors include A&E Investment, Assam Ventures, funds and accounts managed by BlackRock, Intel Capital and the Qatar Investment Authority.
• SambaNova said it will use the proceeds to expand capacity, scale deployments worldwide and continue investing across chips, systems, software and full-stack AI infrastructure for customers.
• The company also said JPMorgan Chase has selected it as an inference infrastructure partner, deploying its SN40 and SN50 systems for AI inference.
• In February, SambaNova raised $350 million to fund the expansion of its SN50 AI chip, and struck a partnership with Intel to deliver cheap inference solutions for AI-native companies.
• The partnership involved a $35 million Intel investment in SambaNova, which received U.S. antitrust clearance in May after acquisition talks between the companies stalled.
• In April, a Reuters review of corporate records showed Intel had planned to invest another $15 million in SambaNova, which would increase Intel’s ownership of SambaNova to 9%.
• SambaNova did not immediately respond to a request for comment on the current size of Intel’s stake and its contribution to the Series F round.
• In April 2021, the company raised $676 million in a funding round led by SoftBank Group’s Vision Fund 2, valuing the company at more than $5 billion.
(Reporting by Anhata Rooprai in Bengaluru; Editing by Vijay Kishore)
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