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.
Uber and Lyft say they'll stay in Minnesota after Legislature passes driver pay compromise
Vanessa Hudgens the Coachella queen explains why she skipped the festival this year
A blast near a ship off Yemen may mark a new attack by Houthi rebels after a recent lull
Complex stories of migration are among the finalists for the Women's Prize for Fiction
College baseball notebook: Conference tournaments to decide NCAA automatic bids and many at
Vanessa Hudgens the Coachella queen explains why she skipped the festival this year
Annie Kilner steps out in Cheshire with her baby son just seven days after giving birth
Company wins court ruling to continue development of Michigan factory serving EV industry
Slovakia's government approves controversial overhaul of public broadcasting
Shooting injures 2 at Missouri high school graduation ceremony
Nepal's president asks visiting Qatari emir to help free student held hostage by Hamas