U.S. technology giant Nvidia signed an agreement to acquire Israeli artificial intelligence company Run:ai, the two companies announced on Wednesday.
The parties did not disclose amounts, but several Israeli media estimated the deal at about 700 million U.S. dollars.
Nvidia explained that it signed the agreement to help customers make more efficient use of their AI computing resources.
Founded in 2018 and based in the coastal city of Tel Aviv, Run:ai has built an operating system tailored for the latest AI processors, leveraging advanced virtualization technologies.
Run:ai's customers include giant global companies and startups that use AI in fields such as finance, automotive, and health, alongside leading academic institutions.
According to Ndivia, among its 29,600 workers worldwide, 3,300 are employed in Israel, most of them in the northern city of Yokneam, and Tel Aviv.
VOX POPULI: Like Nobita in ‘Doraemon,’ we should never give up on ourselves
Minister 'not convinced' Fire and Emergency needs further levy boost
VOX POPULI: Sudden death of Navalny shows dangers of the truth in Russia
'The Apprentice,' about a young Donald Trump, premieres in Cannes
Pressure grows on Angela Rayner to quit as Labour deputy leader over housing row police probe
Chinese comedy group punishment sends chills through arts sphere
Unexplained Tākaka death not suspicious
Verona confirms Serie A status for another year after beating Salernitana
Winston Peters discusses Gaza ceasefire with UN Secretary
Sweden beats France, Britain relegated after losing to Norway at hockey worlds
Hong Kong lawmaker's petition opposing Gay Games is prejudiced, activist says