Intel is preparing to inject another $15 million into SambaNova, the AI chip startup chaired by Intel Chief Executive Officer Lip-Bu Tan, according to corporate records and the company’s recent securities filing. That additional financing, which remains subject to regulatory approval, would raise Intel’s stake in SambaNova to roughly 9%.
The new planned investment follows a $35 million placement completed in February. Combined with other financings, the February funding had driven Intel’s ownership in SambaNova to about 8.2%, up from 6.8% the prior year. The two companies announced a strategic collaboration in February.
Details disclosed in a late March securities filing indicate there are four companies whose financings were material enough to warrant special disclosure because of their size and the potential benefit to Intel’s CEO. The filing did not identify the companies by name. A review of Intel’s disclosure alongside public statements from the startups and prior company announcements shows the four firms are EPIC Microsystems, 3D Glass Solutions, OPAQUE Systems and SambaNova.
In a statement accompanying the filing, Intel said it "maintains rigorous, well-established governance and conflict-of-interest policies, with active Board oversight to ensure all decisions are made in the best interests of the company and its shareholders." The company added that it was already a shareholder in three of the four companies before Tan assumed the CEO role.
The filings and related corporate records illustrate a pattern in which Intel has increased its financial exposure to companies that have direct links to Tan. Those links include Tan’s role as board chair of SambaNova since November 2017 and venture funds affiliated with him that have invested in several of the startups named in the filing.
Critics of such transactions have flagged potential conflicts when a public company pursues deals involving firms connected to its chief executive. At the same time, some industry observers note that Tan’s long-standing relationships within the semiconductor and advanced computing communities could facilitate transactions that all parties view as mutually beneficial. One corporate governance expert who reviewed the March disclosure said he did not see anything inherently wrong with the level of disclosure provided.
SambaNova’s recent developments
Tan reportedly pushed for Intel to back SambaNova, which has aimed to compete with larger AI hardware ecosystems. The startup has faced execution challenges in recent periods: it cut 77 positions in California in April 2025 and explored options such as fundraising or a sale at a lower valuation around that time. Late last year, the two companies signed a non-binding term sheet for a potential acquisition that did not proceed to completion.
Despite those difficulties, Intel increased its stake in February and is now moving to invest further. Investors tied to Tan have substantial holdings in SambaNova and could face significant losses if the startup were to fail.
Responding to inquiries, SambaNova said that 2025 had been its strongest year to date. The company said it has shifted its strategic focus toward inference computing - the type of processing used to generate responses in chatbot applications - and has realigned its organization and its new financing around that transition. SambaNova also said it has introduced a new chip aimed at that market.
Other Intel investments tied to Tan-linked firms
Intel’s filings and public disclosures show several other financings in companies connected to Tan.
- OPAQUE Systems - In January, Intel invested $2.3 million in the AI startup, a transaction that gave Intel a roughly 14% stake valued at about $41 million. Before that funding round, venture funds affiliated with Tan - Walden and FactoryHQ Fund - held 17% of OPAQUE. After the round, the value of their combined holdings was about $46 million. OPAQUE Systems, Walden and FactoryHQ did not respond to requests for comment.
- EPIC Microsystems - Intel invested approximately $3.4 million in January for a stake just under 5%. Tan-affiliated venture funds were significant investors in EPIC, and Tan’s son, Andrew Tan, serves on its board. Andrew Tan and EPIC Microsystems did not respond to requests for comment.
- 3D Glass Solutions - Intel Capital contributed $8 million across two financings since Tan became CEO. After the second financing, Tan’s Walden fund owned about 9.6% of the company. 3D Glass Solutions and Andrew Tan did not respond to requests for comment.
Taken together, the transactions disclosed in the late March filing broaden the picture of dealmaking in which Intel has participated that relate to companies with connections to its CEO. Intel has said previous investments predated Tan’s hiring, and it emphasized governance measures intended to ensure decisions are made in shareholders’ interests.
The outcomes of these investments remain uncertain. SambaNova has signaled it is pursuing a revenue-focused pivot to inference and has introduced new hardware as part of that shift, while other Tan-linked firms have attracted modest sums from Intel and Intel Capital in recent months. Several of the startups and affiliated funds either did not respond to requests for comment or issued limited public statements regarding their business progress and ownership stakes.
Investors and governance observers will likely watch regulatory clearance and subsequent disclosures closely as Intel seeks to finalize the planned $15 million investment in SambaNova and as it continues to report financings tied to companies connected with its chief executive.