AMD to acquire AI software startup in effort to catch Nvidia

2023-10-15

AMD plans to buy an artificial intelligence startup called Nod.ai as part of an effort to bolster its software capabilities.

In its race to catch rival chipmaker Nvidia $NVIDIA Corp(NVDA)$ , Advanced Micro Devices $Advanced Micro Devices(AMD)$ plans to invest heavily in the critical software necessary for the company's advanced AI chips. Through more than a decade of work, Nvidia has built a powerful advantage in the AI chip market through the software it makes, and the software developer ecosystem.

AMD did not disclose the terms of the deal. The Santa Clara, California-based Nod.ai has raised roughly $36.5 million, according to PitchBook data.

Earlier this year, AMD created the AI group that will house the Nod.ai acquisition, Peng said. The group employs about 1,500 engineers - the vast majority of software related - and AMD plans to continue to expand the team with 300 additional hires this year, and more in 2024.

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LEESIMON
2023-10-15
LEESIMON
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