Intel Nears $1.6 Billion Deal for AI Chip Startup SambaNova [Yahoo! Finance]
NVIDIA Corporation (NVDA)
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Source: Yahoo! Finance
A deal for Palo Alto, California-based SambaNova could come together as soon as next month, said the people, who asked not to be identified because the information is confidential. Most Read from Bloomberg A Train Grows in Brooklyn Trump's New Architect Is Sticking With Ballroom's Giant Size Extreme Weather Plunges Brazil's Largest City Into Darkness NJ's Montclair Cuts School Staff and Mulls March Tax-Hike Vote Can Netflix Help Save the American Mall? While the discussions are advanced, the terms and the timing could change, the people said. It's also possible that SambaNova, which has signed term sheets with other would-be financial investors, could opt to pursue another path, they added. Representatives for Intel and SambaNova declined to comment. Founded in 2017 by Stanford University professors, one of whom had won a MacArthur Genius Award, SambaNova designs custom AI chips, aiming to rival those offered by Nvidia Corp. Intel Chief Executive Officer Lip-Bu Ta
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