Intel (INTC.US) is rumored to be close to finalizing the deal to acquire SambaNovaSystems for less than $5 billion

The Zhitong Finance App learned that according to people familiar with the matter, Intel (INTC.US) is close to reaching a deal to acquire artificial intelligence chip startup SambaNovaSystems.

Two people familiar with the matter said that the two parties have signed the list of terms. However, the final deal may take some time, as regulatory approvals, liability reviews, and due diligence have yet to be completed.

Reports of a potential deal between the two sides first appeared in October. If the deal is finalized, the amount would be less than $5 billion — this is SambaNova's valuation in the most recent round of financing in 2021.

Intel CEO Chen Liwu is the executive chairman of SambaNova, which mainly develops inference computing platforms. There are other links between Intel and SambaNova, including investments in Intel Capital. According to the company, Japanese tech giant SoftBank Group invested in Intel in August, as well as SambaNova.