Nvidia is preparing to heat up the competition in the artificial intelligence market.The hardware giant, which announced the acquisition of Run.ai at a valuation of $700 million earlier this year, finally announced that regulatory approval has been received and all deals have been finalized.
Nvidia acquires Run.ai for $700 million
Nvidia announced that it has completed the acquisition of Israeli artificial intelligence company Run:ai. The $700 million deal had been under scrutiny by competition authorities in both Europe and the US for some time. Regulators approved the deal without any conditions.
The European Commission expressed concern in October that the acquisition could jeopardize competition in the GPU market, which Nvidia dominates with an 80 percent share. The EU’s competition watchdog said the deal could strengthen Nvidia’s control of chips used in artificial intelligence applications.
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However, the Commission concluded in December that the Run:ai acquisition, first announced in April, would not cause significant competition problems. The US Department of Justice was investigating the transaction from a competition law perspective as part of its regulatory review of tech giants’ acquisitions of smaller firms.
For those who don’t know, Run:ai provides a software platform for running and managing artificial intelligence operations. Basically, it helps companies more efficiently utilize computational resources (especially GPUs) for AI projects.
