On Wednesday, Intel (INTC.US) shares fell more than 3% at one point, with losses narrowing to over 2% by press time, trading at $39.57. The decline followed reports that the company is nearing a deal to acquire AI chip startup SambaNova Systems. Two sources familiar with the matter confirmed that a term sheet has been signed. However, the final transaction may take additional time as regulatory approvals, liability reviews, and due diligence remain pending.
Initial reports of potential talks between the two parties emerged in October. If completed, the deal is expected to be valued below $5 billion—lower than SambaNova's $5 billion valuation during its latest funding round in 2021.
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