U.S.-based technology news outlet The Information reported Thursday that Nvidia is on its way to completing another significant acquisition of an Israeli software company in the artificial intelligence field. According to the report, the chip giant is in advanced negotiations to acquire the Israeli startup Deci. The acquisition amount was not disclosed, but it is estimated to be lower than the amount Nvidia paid for the acquisition of Run:ai, which was valued at around $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 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.
On Wednesday, Nvidia announced the acquisition of the Israeli artificial intelligence company Run:ai. The two companies didn't disclose the acquisition price, but estimates believe the cost to be around $700 million.
The Israeli company has built an operating system for new artificial intelligence processors, based on advanced virtualization technologies. The company's Atlas platform aggregates all the organization's computing resources and dynamically and automatically allocates resources to all running tasks in parallel, according to organizational needs and priorities.
Run:ai's customers include Fortune 500 companies and startups using artificial intelligence in a variety of fields such as finance, automotive, health, and leading academic institutions.
The investment funds will be used to expand the company's research and development center in Tel Aviv and recruit developers, engineers, artificial intelligence experts, product managers, and marketing personnel.