Key facts
- SambaNova Systems raised $1 billion in its Series F funding round.
- The company achieved an $11 billion valuation.
- General Atlantic led the funding round, with participation from other investors including Intel, T. Rowe Price, and BlackRock.
- SambaNova has partnered with JPMorgan Chase to power on-premises AI inference for the bank's sensitive models.
- The funds will be used to scale the business and secure the supply chain.
- The company previously raised $350 million in its Series E round in February.
AI chip company SambaNova Systems has secured $1 billion in its Series F funding round, achieving an $11 billion valuation. The round was led by General Atlantic, with participation from other investors including Intel, T. Rowe Price Associates, and BlackRock.
SambaNova also announced a significant partnership with JPMorgan Chase, which will use the company's SN40L and SN50 systems to power secure, on-premises AI inference. This collaboration signals a trend for large financial institutions to build private infrastructure for sensitive AI models, moving away from sole reliance on cloud services.
The latest funding comes approximately five months after SambaNova's $350 million Series E round and the unveiling of its SN50 chip. The company, founded in 2017, has deepened its ties with Intel, a long-time backer and participant in this new round, with whom it co-develops products.
CEO Rodrigo Liang stated that the company is fielding interest from potential acquirers but is likely to pursue an IPO. The new capital will be used to scale the business and strengthen its supply chain to meet demand over the next 12 months. SambaNova targets sovereign clouds, neoclouds, and enterprises building private AI infrastructure.