SambaNova Hits $11B Valuation With $1B Series F First Close

SambaNova closed the first tranche of a $1 billion Series F round, giving the AI chip startup an $11 billion post-money valuation. General Atlantic led the round, with participation from Seligman Ventures, T. Rowe Price, and Capital Group. Other backers include BlackRock, Intel Capital, and the Qatar Investment Authority.

The Palo Alto company designs specialized processors and software for large language model training and inference. The new capital will fund production expansion and customer deployments, the company said.

T. Rowe Price, which holds a 0.3% stake through its funds, is among the institutional investors that have backed SambaNova across multiple rounds. The firm's Alpha Score sits at 83 out of 100, a Strong rating within the Financials sector.