US tech giant Intel Corp. announces that it has acquired Israeli startup Habana Labs, a Caesarea-based chip maker, for some $2 billion.
“The combination strengthens Intel’s artificial intelligence portfolio and accelerates its efforts in the nascent, fast-growing AI silicon market, which Intel expects to be greater than $25 billion by 2024,” the company says in a statement.
It is Intel’s second-largest acquisition in Israel, after the US firm bought Mobileye, a maker of autonomous car technologies, in 2017.
Last year, Intel Capital, the investment arm of the US firm, invested in Habana Labs, a maker of artificial intelligence-based processors and chips, as part of a $75 million series B funding round for the startup. The Israeli firm has raised some $120 million to date, according to Start-Up Nation Central, which tracks Israel’s tech industry.
Habana Labs, founded in 2016 by David Dahan and Ran Halutz, uses artificial intelligence to improve the processing performance of chips and lower their costs and power consumption. The processors are aimed at the specific needs of training deep neural networks.
— with Shoshanna Solomon
Help us report truthfully on social media
As a multimedia journalist, my job is to take the quality, fact-based journalism produced by The Times of Israel newsroom and make it accessible across every platform — from Instagram posts to podcasts to short-form videos.
This is how many, especially young people, consume news these days. But misinformation is rampant on social media. Our team at ToI produces accurate, responsible short-form reporting on Israel and the Jewish world.
If you believe in the importance of factual social media journalism, please consider joining our reader support group, The Times of Israel Community. Your financial support is essential to sustain responsible multimedia reporting.
— Gabriella Jacobs, multimedia journalist
Support our work
Support our work
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
From the Liveblog of
Monday, December 16, 2019
Add ToI as a Preferred Source on Google
