Intel has signed a term sheet to acquire the AI chip startup SambaNova Systems, two sources with direct knowledge of the agreement tell WIRED. Notably, Intel CEO Lip-Bu Tan is currently the executive chairman of SambaNova Systems. Intel Capital, which Intel is in the process of spinning off into a stand-alone fund, has also invested in SambaNova Systems. SambaNova Systems was founded in 2017 in Palo Alto, California, by Kunle Olukotun, Rodrigo Liang, and Christopher Ré. SambaNova Systems makes an AI chip platform for inference computing, a process where large language models make predictions from vast amounts of data.