American technology company Nvidia announced that it has completed the acquisition of Israeli start-up Run:air for 700 million dollars (674 million euros).
“We are excited to build on this momentum, now as part of NVIDIA. Artificial Intelligence (AI) and accelerated computing are transforming the world at an unprecedented pace, and we believe this is just the beginning,” the Hebrew firm said in a statement.
At the beginning of December, the European Commission (EC) approved this operation after checking that this acquisition did not raise competition problems.
The European Union's antitrust watchdog initially warned that the deal threatened competition in the markets where the companies operate.
Nvidia dominates the AI graphics processor market, controlling around 80% of the market share.
Run:ai was founded in February 2018 by Omri Geller – current CEO – who previously worked in a technology unit at the Israeli Prime Minister's Office.
This Israeli startup develops software to manage artificial intelligence applications, one of the sectors that has gained the most momentum in Israel in recent years.
“When we founded Run:ai in 2018, our goal was clear: to be a driving force in the AI revolution and empower organizations to unlock the full potential of their AI infrastructure. Over the years, our world-class team has achieved milestones we could only dream of at the time,” the firm adds. EFE