SambaNova last announced a $350m Series E raise in February.
Intel-backed SambaNova has secured $1bn in funding to expand its AI chipmaking business, as demand for its inference technology continues to grow.
The Series F round, which drives up SambaNova’s valuation to $11bn, was led by General Atlantic, with participation from long-term backer Intel Capital, alongside Cambium Capital, BlackRock and the Qatar Investment Authority.
A&E Investment, Assam Ventures, Battery Ventures, Kabila Capital, QFO Capital, Vista Equity Partners and Volantis also participated in the raise.
The new capital comes at a time of accelerating momentum for SambaNova, which last announced a $350m Series E in February.
In recent months, the company launched its specialised SN50 chips that prioritise token efficiency, and announced a multi-year collaboration with Intel to deliver cost-efficient AI inference solutions to customers and roll out an Intel-powered AI cloud.
The 2017-founded SambaNova has close ties with Intel, whose CEO Lip-Bu Tan serves as chair of SambaNova’s board.
SambaNova said it will use proceeds from the latest raise to expand capacity, accelerate product innovation and scale deployments. Continuing on its growth momentum, the chipmaker plans to continue investing across chips, systems, software and full-stack AI infrastructure.
Alongside the funding, SambaNova has announced JPMorganChase as its latest customer to deploy the SN40 and SN50 chips.
“SambaNova’s platform is differentiated, built for a market where inference has become foundational to enterprise and industry transformation,” said Martín Escobari, the co-president and head of global growth equity at General Atlantic.
“Rodrigo and the team are driving deep technical innovation to achieve growing commercial momentum while demand for inference is accelerating well ahead of supply. We are pleased to lead this round to support SambaNova in shaping the next generation of AI infrastructure.”
SambaNova co-founder and CEO Rodrigo Liang told CNBC last month that “business is growing at an incredibly rapid rate”, adding that he is “really excited” about the current IPO market.
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