February 26, 2020 / 2:14 AM / 5 months ago

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

FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 30, 2017. REUTERS/Brendan McDermid/File Photo

(Reuters) - Artificial intelligence computing firm SambaNova Systems said on Tuesday it has raised $250 million in a funding round led by BlackRock Inc 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 and Alphabet 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.

Reporting by Sanjana Shivdas in Bengaluru; Editing by Sherry Jacob-Phillips

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