NVIDIA confirmed it has signed a definitive agreement to acquire Israeli artificial intelligence (AI) company Deci. According to estimates, the deal is valued at $300 million. In its latest fundraising round, the company was valued at approximately $200 million.
With this acquisition, NVIDIA completes the purchase of two Israeli AI companies within a week, totaling a $1 billion value. This comes after announcing the acquisition of Run:ai last week for a total of $700 million.
Deci was founded in late 2019 by Dr. Yonatan Geifman, Prof. Ran El-Yaniv, an expert in artificial intelligence from Israel's Technion, and Jonathan Elial. The company has developed an AI-based platform that allows developers and data scientists to improve the accuracy and processing speed of algorithms driving AI applications.
Today, the company employs dozens of workers and has funded approximately $55 million to date, with investors including Insight Partners, Jibe Ventures, Emerge, Square Peg, and Fort Ross Ventures, ICON.
The company works with hardware manufacturers, OEM manufacturers, and other leading ML system providers, and is officially partnered with Intel, Amazon Web Services (AWS), Hewlett Packard Enterprise (HPE), and NVIDIA, among others.
The company has developed an AI-based platform that enables developers and data scientists to improve the accuracy and processing speed of algorithms driving AI applications. A growing gap is emerging between increasingly large and complex artificial intelligence algorithms and the computational power needed to efficiently and economically run these algorithms.
The company claims its solution bridges this gap by automatically optimizing the algorithms underlying artificial intelligence applications, thereby making powerful AI technology accessible even on edge devices and economically viable.
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