Federal antitrust regulators have given their approval to Intel’s financial backing of SambaNova Systems, an artificial intelligence chip company, according to regulatory documents released Friday.
The semiconductor giant invested $35 million in SambaNova during February, which combined with additional funding rounds increased Intel’s ownership portion in the AI startup from 6.8% to 8.2% compared to the previous year.
SambaNova Systems is led by a chairman who also serves as Intel’s chief executive officer, Lip-Bu Tan.
According to previous reports from April, Intel has outlined plans to provide an additional $15 million investment in the startup company.
The completion of the antitrust review clears the way for Intel’s continued partnership with the AI chip developer as both companies work in the competitive semiconductor market.
