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JPMorgan Chase Partners With SambaNova Systems for On-Premise AI Hardware
JPMorgan Chase is partnering with SambaNova Systems to deploy on-premise AI hardware instead of relying on third-party cloud services. SambaNova recently raised $1 billion, reaching an $11 billion valuation.
Jul 8, 3:30 PM·1m read2 sources
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JPMorgan Chase is partnering with SambaNova Systems to install on-premise AI hardware rather than using third-party cloud services. The arrangement aims to provide secure, large-scale computing capacity inside the bank.
Systems raised $1 billion in a recent funding round. The round brought the company's valuation to $11 billion.
Chase reported $53.7 billion in quarterly revenue. The bank holds a market capitalization of $554.8 billion. Seeking Alpha reported that the Seeking Alpha Quant system assigned a Strong Buy rating to JPMorgan Chase shares.
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CorroborationModerate · 2 sources
