From the Liveblog of
Monday, December 30, 2024
US chipmaking giant Nvidia announces it has acquired Israeli startup Run:ai
Add ToI as a Preferred Source on GoogleSharon Wrobel is a tech reporter for The Times of Israel
US gaming and computer graphics giant Nvidia announces the completion of the acquisition of Israeli startup Run:ai, after obtaining the necessary regulatory approvals.
The closure of the deal that was first announced in April comes after the US Department of Justice and the European Commission granted approvals for the acquisition of Run:ai, which has built software to help developers and businesses manage complex AI workloads and computing resources on a single platform.
The financial terms of the deal were not disclosed, but the value is said to be around $700 million, according to reports in the Hebrew press. The deal is estimated to be Nvidia’s biggest acquisition in Israel since the US chipmaker bought Mellanox Technologies Ltd. in 2020 for $6.9 billion.
“As part of Nvidia, we are eager to build on the achievements we’ve obtained until now, expand our talented team, and grow our product and market reach,” said Run:ai.
Run:ai’s employees will be joining Nvidia’s growing operations in Israel, where the chipmaker employs about 4,000 workers in seven R&D centers, including Yokne’am where Mellanox is headquartered, Tel Aviv, Jerusalem, Ra’anana, and Beersheba in the south.
The Times of Israel Community.