Nvidia has agreed to acquire the Israeli startup Run:ai, which develops software for handling artificial intelligence computing resources.
While the exact terms of the deal have not been disclosed, the acquisition is estimated to be valued at USD$700 million, a report from Bloomberg said.
The California-based chipmaker has been collaborating with the Israel-based startup, which was founded in 2018 by Omri Geller and Ronen Dar, since 2020. The chipmaker has done several other deals in the country, which is its second-most important market.
Earlier in March, reports emerged of a coalition of tech companies that includes Qualcomm, Google and Intel that plans to loosen Nvidia’s chokehold by going after the chip giant’s secret weapon: the software that keeps developers tied to Nvidia’s chips.
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The trillion-dollar chipmaker alongwith its hardware relies on its nearly 20 years worth of computer code, which helps competition with the company nearly impossible, a report from Reuters said.
Currently, an estimated 4 million global developers are said to rely on Nvidia’s CUDA software platform to build AI and other apps.
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