Intel Is Said to Be in Talks to Buy Chip Startup SambaNova (1)

Intel Corp. is in preliminary talks to buy artificial intelligence chip startup SambaNova Systems Inc., according to people familiar with the matter.

Intel is discussing the terms of an acquisition with SambaNova, which has been working with bankers to gauge interest from potential suitors, the people said.

Any deal would likely value SambaNova at below the $5 billion it fetched in a 2021 funding round, the people said, asking not to be identified because the information is private.

Deliberations are in the early stages and there’s no certainty the companies will reach an agreement, according to the people. Another ...