The Stanford-linked artificial intelligence technology developer doubled its valuation to $5.1bn in a round led by SoftBank Vision Fund 2.

SambaNova Systems, a US-headquartered artificial intelligence software spinout of Stanford University, raised $676m in a series D round led by internet and telecommunications group SoftBank’s Vision Fund 2 yesterday. The round included Intel Capital and GV, corporate venturing subsidiaries for semiconductor and data technology provider Intel and internet and technology group Alphabet respectively, and it valued the company at $5.1bn, chief executive Rodrigo Liang told TechCrunch. Singaporean state-owned entities Temasek and GIC filled out the round together with Walden International, WRVI and funds and accounts managed by BlackRock. SambaNova is developing systems to run advanced AI applications that are intended to be more powerful that existing central or graphics processing units, for use across data centres, the cloud and edge computing. The company’s co-founders include Kunle Olukotun, who leads Stanford University’s Hydra Chip Multiprocessor (CMP) research project, and Chris Ré, an associate professor in Stanford’s Department of Computer Science. Deep Nishar, senior managing partner at SoftBank Investment Advisers, which manages Vision Fund, said: “SambaNova has created a leading systems architecture that is flexible, efficient and scalable. “This provides a holistic software and hardware solution for customers and alleviates the additional complexity driven by single technology component solutions. We are excited to partner with Rodrigo and the SambaNova team to support their mission of bringing advanced AI solutions to organisations globally.” SambaNova has now raised more than $1.1bn altogether, having emerged from stealth in 2018 with $56m from a series A round co-led by GV and Walden International that also featured Redline Capital and Atlantic Bridge Ventures. The company added $150m in a 2019 series B round led by Intel Capital and backed by GV, Walden International, Redline Capital and Atlantic Bridge Ventures. Funds and accounts managed by BlackRock led the company’s $250m series C round in February 2020, which included Intel Capital, GV, Walden International, WRVI Capital and Redline Capital, at a reported $2.5bn valuation. – A version of this article first appeared on our sister site, Global Corporate Venturing.

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