Computer chip giant Intel is preparing to pump an additional $15 million into SambaNova, an artificial intelligence startup where Intel’s own chief executive officer serves as board chairman, according to corporate documents reviewed by Reuters.
The planned investment, which requires regulatory clearance, would expand Intel’s ownership in SambaNova to 9%. This follows a $35 million investment Intel made in the company just two months earlier in February, which had already increased the tech giant’s stake to 8.2% from 6.8% the previous year. The companies had announced a “strategic collaboration” in February.
These transaction details, which had not been previously disclosed, demonstrate Intel’s continued pursuit of deals that could enhance the personal wealth of CEO Lip-Bu Tan, a successful venture capitalist brought in a year ago to revitalize the struggling chipmaker.
Intel revealed in a late March regulatory filing that four unnamed companies had received financing significant enough to warrant disclosure due to their size and potential benefit to Tan. The company did not indicate whether this represented a complete list.
Reuters identified these investments and determined their values by examining Intel’s disclosures alongside public statements from both Intel and the startup companies involved.
The four companies with Tan connections are EPIC Microsystems, 3D Glass Solutions, OPAQUE Systems, and SambaNova, the document review revealed.
Intel responded with a statement saying it “maintains rigorous, well-established governance and conflict-of-interest policies, with active Board oversight to ensure all decisions are made in the best interests of the company and its shareholders.”
The company noted it was already an investor in three of the four companies before Tan assumed the CEO position. Intel declined to provide specific comments about the SambaNova financing.
“In specialized industries like semiconductors and advanced computing, overlap among long-time investors is expected,” the company stated.
Reuters had reported in December that Intel had pursued at least three deals that would benefit Tan, either by considering acquisitions of Tan-backed startups or investing in them through Intel Capital, its venture investment arm.
Intel’s March regulatory filing revealed a much broader pattern of such dealmaking activities.
Corporate governance specialists previously told Reuters that such transactions raise concerns due to inherent conflicts when dealing with Tan’s investment portfolio companies. However, some semiconductor industry analysts have praised Tan’s industry connections, which Tan believes position him uniquely to negotiate mutually beneficial agreements.
When asked about Intel’s March filing, Wharton School professor Daniel Taylor, a corporate governance expert, said he found nothing inherently problematic with the disclosure.
Tan has advocated for Intel’s support of SambaNova, a startup that has struggled to fulfill ambitious goals of competing with Nvidia’s AI hardware and software platform.
Tan has served as SambaNova’s board chairman since November 2017. The company eliminated 77 positions in California in April 2025 and around that time considered fundraising or a potential sale at a reduced valuation, Reuters had previously reported.
Near the end of last year, Intel and SambaNova executed a non-binding acquisition agreement that ultimately fell through. Reuters could not determine the reasons for the failed deal.
Despite these difficulties, Intel increased its investment in February and is now considering additional funding. Tan’s investment firms are major SambaNova backers and could suffer substantial losses if the company collapses.
Responding to Reuters’ questions, SambaNova stated that 2025 was its most successful year on record and that the company has redirected its focus toward AI inference computing, which involves the calculations needed to respond to user queries in chatbots like OpenAI’s ChatGPT, an area experiencing high demand.
SambaNova has “aligned the organization and new financing around this transition” and has launched a new chip, the company said.
In January, Intel invested $2.3 million in AI startup OPAQUE Systems, securing a 14% ownership stake valued at approximately $41 million, Reuters’ analysis showed.
Venture funds connected to Tan, including Walden and FactoryHQ Fund, controlled 17% of the startup before the January funding round. Their holdings were worth about $46 million following the investment round.
OPAQUE Systems, Walden, and FactoryHQ did not respond to comment requests.
Intel also invested $3.4 million in EPIC Microsystems for nearly 5% ownership in January, the review indicated. Tan-backed venture funds were major investors in the semiconductor company, and Tan’s son Andrew serves on its board.
Intel Capital has also invested $8 million across two funding rounds in 3D Glass Solutions since Tan became Intel’s chief executive. Tan’s Walden firm owned 9.6% following the second financing round, the review showed.
Andrew Tan, EPIC Microsystems, and 3D Glass Solutions did not respond to comment requests.
