AMD Accelerates AI Ambitions With Acquisition Of Nod.ai
Advanced Micro Devices (AMD) has revealed its plans to acquire Nod.ai, a promising artificial intelligence startup. This move underscores AMD's commitment to bolstering its software capabilities, a crucial component in its quest to catch up with its rival chipmaker, Nvidia.
Nvidia has long held a dominant position in the AI chip market, owing much of its success to its robust software offerings and a thriving developer ecosystem. AMD acknowledges the importance of closing this gap. Its President, Victor Peng, expressed the company's dedication to this mission. AMD aims to achieve this by making substantial investments in software development, both internally and through strategic acquisitions, as reported by Reuters.
The acquisition of Nod.ai aligns with AMD's overarching strategy. Nod.ai brings to the table technology that simplifies the deployment of AI models optimised specifically for AMD's range of chips. This technology is particularly appealing to large data center operators and other industry players seeking to harness the power of AI effectively.
While the financial details of the deal remain undisclosed, Nod.ai, headquartered in Santa Clara, California, had previously secured approximately USD 36.5 million in funding, according to data from PitchBook, as reported by Reuters.
Earlier this year, AMD established an AI group, which will now house the newly acquired Nod.ai. This group comprises around 1,500 engineers, the majority of whom specialise in software development. AMD has ambitious plans to expand this team further, with the addition of 300 new hires slated for 2023 and more in the pipeline for 2024.
