Nvidia plans to acquire Israeli AI company AI21 Labs for up to $3 billion.
Foresight News reported, citing Israeli financial daily Calcalist on Tuesday, that Nvidia (NVDA.O) is in advanced talks to acquire Israeli artificial intelligence startup AI21 Labs for $2 billion to $3 billion. In a 2023 funding round, AI21 Labs was valued at $1.4 billion. Nvidia and Google (GOOG.O), a subsidiary of Alphabet, participated in that round.
AI21 Labs was founded in 2017 by Amnon Shashua and two others, and is one of many startups benefiting from the artificial intelligence boom. Shashua is also the founder and CEO of Mobileye, a developer of autonomous driving technology. AI21 Labs has long been seeking a sale, and negotiations with Nvidia have made significant progress in recent weeks. Nvidia's main interest in AI21 Labs appears to be its team of around 200 employees, most of whom hold advanced degrees and possess "rare expertise in AI development." Based on the acquisition price, this equates to approximately $10 million to $15 million per employee.
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