Intel Is Said to Near $1.6 Billion Deal for Chip Firm SambaNova

Intel Corp. is in advanced talks to acquire artificial intelligence chip startup SambaNova Systems Inc. for about $1.6 billion including debt, according to people familiar with the matter.

A deal for Palo Alto, California-based SambaNova could come together as soon as next month, said the people, who asked not to be identified because the information is confidential.

While the discussions are advanced, the terms and the timing could change, the people said. It’s also possible that SambaNova, which has signed term sheets with other would-be financial investors, could opt to pursue another path, they added.

Representatives for Intel and SambaNova ...