AI computing startup SambaNova raises $250 million in BlackRock-led funding

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(Reuters) – Artificial intelligence computing firm SambaNova Systems said on Tuesday it has raised $250 million in a funding round led by BlackRock Inc (NYSE:) to expand its customer base, reflecting investors’ appetite for the market.

Investors in the Series C funding round included the venture capital arms of both Intel Corp (NASDAQ:) and Alphabet (NASDAQ:) Inc, Walden International, WRVI Capital and Redline Capital.

The Palo Alto, California-based company, which was launched in 2017, said it is building an advanced systems platform to run AI and data-intensive applications.

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