According to reports, Intel intends to invest an additional $15 million in the startup SambaNova Systems, where Intel CEO Patrick Gelsinger serves as Chairman. This proposed investment is pending regulatory approval. If approved, Intel's stake in SambaNova would increase to 9%.
Intel had previously invested $35 million in SambaNova in February of this year. Combined with other financing rounds, Intel's ownership in the startup has already risen from 6.8% last year to the current 8.2%. The two companies announced a "strategic collaboration" in February.
In a securities filing from late March, Intel indicated that financing activities for four unnamed companies were considered significant and required disclosure due to their size and their association with Patrick Gelsinger. The filing did not specify if this list was comprehensive.
The four companies associated with Patrick Gelsinger are EPIC Microsystems, 3D Glass Solutions, OPAQUE Systems, and SambaNova.
In a statement, Intel said it "maintains rigorous, well-developed governance and conflict of interest policies that are actively overseen by the board to ensure all decisions are made in the best interests of the company and its shareholders."
Intel further clarified that it was already a shareholder in three of these four companies prior to Patrick Gelsinger becoming CEO. Intel declined to comment specifically on the SambaNova financing.
The company stated, "It is common for there to be overlap among long-term investors in specialized industries such as semiconductors and advanced computing."
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