SambaNova raises $1B Series F at $11B

The $1B is a first close, so the round can still grow as additional investors join. Beyond the lead, Seligman Ventures took a significant stake, and the syndicate mixes new and existing backers. The company also said JPMorgan Chase has picked its SN40 and SN50 systems for on-premises AI inference. Total funding is now close to $2.5B. The pricing reverses a recent story. Intel was reportedly in talks in December 2025 to buy the company for about $1.6B including debt. Those talks stalled, and Intel instead joined the $350M Series E in February 2026, which coincided with the SN50 chip launch. The new valuation is more than double that round's and about twice the $5.1B set in 2021. Outside estimates put annual recurring revenue below $50M, so the price rests on expected demand more than current sales. For AI founders, investors are paying up for inference capacity as workloads shift from training to production serving. A regulated, named bank customer is the kind of reference that helps hardware challengers against Nvidia. Startups that depend on inference costs and supply should expect more non-Nvidia options, and more financing aimed at them.