Chip giant, Nvidia (NVDA, Financial) announced Monday, that it had completed the purchase of Run:ai, an Israeli startup focused on optimizing AI chip efficiency to lower GPU demand for workloads. Originally revealed in April, the acquisition apparently cost Nvidia over $700 million, though terms were not revealed. Early this month, the purchase was approved by the European Union; the European Commission said the agreement presented no competition issues inside the European Economic Area.
Founded in Israel, Run:ai acquired $75 million from investors headed by Tiger Global Management and Insight Partners thanks to its Series C fundraising round in March 2022. By scooping up Run:ai, Nvidia strengthens its position in AI infrastructure in line with its initiatives to meet the rising need for effective AI solutions. Nvidia wants to improve the operating capacity of its GPU-powered AI systems by including Run:ai's technologies, strengthening its leadership in the sector.
