Nvidia buying AI startup for R13 billion — Report

Nvidia Corp. has agreed to acquire Israeli startup Run:ai, which develops software for handling artificial intelligence computing resources.

Run:ai has been a close collaborator with Nvidia since 2020, the Santa Clara, California-based chipmaker said in a statement on Wednesday.

It didn’t disclose the terms of the deal, but Israeli newspaper Calcalist pegged the value of the transaction at $700 million (R13.45 billion).

Nvidia also has agreed to purchase another Israeli startup, Deci AI, according to the Information.

Nvidia declined to comment on that acquisition.

Terms of that deal couldn’t be learned, the Information said.

Nvidia employs more than 20,000 workers worldwide and about 3,200 workers in Israel, according to Calcalist.

Israel is Nvidia’s second-most important market, the paper said, and the chipmaker has done several other deals in the country.

Run:ai was founded in 2018 by Omri Geller and Ronen Dar.

Nvidia’s last major deal in Israel was the $7 billion acquisition of Mellanox Technologies Ltd. in 2020.

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Nvidia buying AI startup for R13 billion — Report