05:11 AM EDT, 07/08/2026 (MT Newswires) -- (Updates with attribution to SambaNova in the first and third paragraphs and additional details in the second paragraph.)

Intel ( INTC ) -backed SambaNova Systems raised $1 billion in the first close of its series F funding round at an $11 billion valuation, with General Atlantic leading the investment, the startup said Wednesday.

There were also investments by T. Rowe Price ( TROW ) and funds managed by BlackRock ( BLK ) , the company said.

The AI chip startup also secured JPMorgan Chase ( JPM ) as a customer, with the bank planning to deploy SambaNova's chips for in-house AI workloads, the company said.

Intel ( INTC ) and JPMorgan ( JPM ) did not respond to MT Newswires' requests for comment.