Intel Capital led a $150 million Series B funding round for SambaNova Systems, adding its name to the list of big-league backers of the startup building a systems platform for the next wave of computing led by artificial intelligence (AI).
Other backers in the funding round, announced on April 1, include GV (formerly known as Google Ventures) Walden International, Atlantic Bridge Ventures, and Redline Capital. Those funders also contributed to SambaNova in March 2018 during a $56 million Series A round.
As one of the fastest-growing technologies in recent years, AI has drawn heavy investment interest, and SambaNova has an advantage in being led by veterans of the tech industry.
SambaNova was founded in Palo Alto in 2017 by Stanford Professors Kunle Olukotun (who is known as the “father of the multi-core processor”) and Chris Ré. The company was most recently valued at $211.6 million.
Intel’s interest in SambaNova was part of a $117 million investment it made across 14 technology startups announced that day. The companies chosen by the investment arm of the Phoenix, Arizona-based chipmaker span the fields of AI, communications, manufacturing, and health care. Intel Capital typically invests $300 million to $500 million annually in emerging technology, the firm said in the statement.