Chip company Nvidia gets the green light from the European Union to complete its acquisition of Run:ai.
The EU came to a unanimous decision today that Nvidia could go ahead with its acquisition of Israeli GPU orchestration platform Run:ai, according to reporting from Bloomberg. The European Commission determined that if the merger went through other hardware options compatible with Nvidia would still be available on the market and thus this company combination would not create a monopoly.
Despite the EU approval, though, the deal is still being held up by the Department of Justice in the U.S. and it’s unclear when/if it will be approved.
Still, this is likely welcome news to other AI startups with acquisition and acquihire aspirations, as it shows consolidation is welcome in the AI market — at least for now.
While the deal terms weren’t disclosed, the purchase price is estimated to be around $700 million, according to Bloomberg’s reporting that cites local Israeli media. The deal was originally announced in April.