Overview
- WIRED reported that Intel signed a non-binding term sheet to acquire SambaNova, with details undisclosed and due diligence and reviews still to come.
- Reuters detailed at least three cases in which Intel pursued deals involving companies linked to CEO Lip-Bu Tan’s roles or investments, including SambaNova and Rivos.
- Intel says Tan must recuse himself from transactions where he could benefit, with the audit committee monitoring related-party matters and CFO David Zinsner taking authority on conflicted deals.
- Tan pitched buying Rivos in 2025 but the board cited conflicts and a lack of an AI strategy; a subsequent bidding contest with Meta lifted Rivos’ value to roughly $4 billion before Meta moved to acquire it in September.
- SambaNova’s valuation has declined from its 2021 $5 billion peak, making it a more attainable target as Intel seeks to strengthen its AI chip position.