Intel nears $1.6 billion deal for AI startup SambaNova: Report

Intel is in advanced talks to acquire artificial intelligence (AI) startup SambaNova Systems in a $1.6 billion deal that includes debt, according to a Bloomberg report published on Saturday.

The deal has not yet been disclosed and could be initiated as soon as next month, the report added. However, the terms and timing of the transaction could change. It is also possible that SambaNova, which has signed term sheets with other prospective financial investors, could choose to pursue an alternative path.

Palo Alto–based startup SambaNova designs custom…