US Stock Market Move | Approaching the acquisition agreement with SambaNova Systems, Intel Corporation (INTC.US) briefly fell more than 3%.

On Wednesday, Intel Corporation (INTC.US) once fell more than 3%, but as of the time of writing, the stock had dropped more than 2%, to $39.57. On the news front, the company is nearing a deal to acquire the artificial intelligence chip startup SambaNova Systems. Two sources familiar with the matter said that the two sides have signed a term sheet. However, the final deal may still take some time as regulatory approval, liability review, and due diligence have not been completed. Reports of a potential deal between the two parties first appeared in October. If the deal is ultimately reached, the amount will be lower than $5 billion (which was also SambaNova's valuation in its most recent funding round in 2021).