Should I apply to this internship?

Im a student at a well reputed univeristy in the US and im doing my MS in Data Science. I am in my first year of the program and have started hunting for a summer internship for 2024. The market is hard.Also, I come from a non tech background. My hope is to start working in the machine learning space after I graduate (i am an international student so the context is complex in regards to visa stuff). I know that everyone wants ML right now, and with my lack of background, this can get harder. My hope was to get some experience in it thru a summer internship so itll improve my prospects when I graduate to get a full time job in ML somewhere.

Here's the deal, I interned in a non tech role at a place where there was a lot of ML going on. They are looking for ML research interns at the moment in the space that I am interested in. However, its a very very small company and wont pay much for sure(thankfully not a problem for me). The company is HQed in the Silicon Valley but the CEO doesnt even live in the US.

My question is, given the market, and given my background, would it make more sense to apply for this internship and do you think it will increase my job prospects after I graduate? I worked there as an intern in my undergrad for over a year and have a nice relationship with them . I surely have an increased chance of being accepted. The position is remote and Im torn about how itll look on my resume if i intern at the same place twice (once in undergrad and then in postgrad). I do think i have a sweet deal here where I stand a good chance of interning in ML in this market even without a background. The catch is, if i apply now and get another offer elsewhere, im likely to take that offer and risk souring my relationship at this company.

Justw anted youre thoughts based on the situation with my background and the current market.

Thanks for reading all this!!