Private equity firm Vista Equity Partners is leading a funding round of more than $350 million in AI chip startup SambaNova Systems, alongside existing investor Intel, according to sources familiar with the matter. The Series E round, which is oversubscribed, represents a notable shift for Vista, a firm traditionally focused on enterprise software investments.
Intel is expected to contribute around $100 million, with potential commitments rising to $150 million, sources said. The fundraising aims to bolster SambaNova’s ability to compete in the fast-growing market for AI inference chips, where demand is surging as companies seek alternatives to dominant suppliers such as Nvidia. Valuation details were not disclosed, and terms may still change as the round remains in progress.
The deal comes amid mounting pressure on software stocks, which have lost significant market value as investors reassess the impact of AI-driven disruption. At the same time, interest in AI hardware has intensified, with investors backing chipmakers that promise faster and more efficient inference. SambaNova, once valued at $5 billion, has reoriented its business toward inference and cloud services after earlier setbacks, and recently reported meeting its annual sales target.
If completed as planned, the investment would underscore a broader pivot by major investors toward AI infrastructure, signaling growing confidence that specialized chips will play a central role in the next phase of artificial intelligence adoption.
