Intel Takes Major Step in Plan to Acquire Chip Startup SambaNova
Save StorySave this storySave StorySave this storyIntel has signed a term sheet to acquire the AI chip startup SambaNova Systems, two sources with direct knowledge of the agreement tell WIRED.The details of the term sheet are unknown. The agreement is non-binding, meaning the deal is not yet finalized and could be dissolved without penalty. It could take weeks or even months before regulatory approval, liability scrutiny, and financial due diligence are complete.Intel’s interest in acquiring the startup was first reported by Bloomberg in late October. At the time, the talks were in the early stages. The report noted that SambaNova could sell for less than the $5 billion valuation it had reached in April 2021.Notably, Intel CEO Lip-Bu Tan is currently the chairman of SambaNova Systems….
