Skip to main content

Market Overview

BlackRock Leads $250M Funding In AI Computing Startup

Share:
BlackRock Leads $250M Funding In AI Computing Startup

Artificial intelligence startup SambaNova Systems on Tuesday said it had raised $250 million in a Series C funding round.

What Happened

The funding round was led by financial giant BlackRock, Inc. (NYSE: BLK) and saw participation from SambaNova's previous investors including Intel Corporation (NASDAQ: INTC), Alphabet Inc.'s (NASDAQ: GOOGL) (NASDAQ: GOOG) venture arm GV, Walden International, and WRVI Capital.

"Raising [$250 million] in this funding round with support from new and existing investors puts us in a unique category of capitalization," CEO Rodrigo Liang said in a statement. "This enables us to further extend our market leadership in enterprise computing."

SambaNova, which provides the infrastructure for running AI and computer-intensive applications, had previously announced a $150 million Series B funding led by Intel and GV.

Price Action

BlackRock's shares closed 4.17% lower at $506 on Tuesday.

Intel closed 3.29% lower at $59.73 and inched higher in the after-hours session at $59.91.

Alphabet's Class A shares closed 2.36% lower at $1,386.32 and traded 0.9% higher in the after-hours session at $1,398.79.

Class C shares closed 2.33% lower at $1,388.45. The stock traded 0.47% higher at $1,395.00 in the after-hours market.

 

Related Articles (GOOG + BLK)

View Comments and Join the Discussion!

Posted-In: AI Alphabet Inc. BlackrockNews Financing Startups Tech General Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com