Intel Habana Labs cost $ 2 billion.
Intel announced the acquisition of Habana Labs, an Israeli developer of deep learning programmable accelerators for data centers. The amount of the transaction is approximately equal to $ 2 billion.
The acquisition is expected to strengthen Intel’s position in the fast-growing market for artificial intelligence solutions, which the company predicts will exceed $ 25 billion by 2024.
Intel’s AI strategy is based on the belief that using AI capabilities to improve business results requires a wide range of technologies – both hardware and software – and full ecosystem support. It is expected that in 2019 Intel will receive in this area more than $ 3.5 billion in revenue, which is 20% higher than last year’s result.
Habana Labs will be an independent division, which will be led by the current management team. The division will be part of the Intel Data Platforms Group. This approach is expected to give Habana access to Intel capabilities, including significant AI resources created over the past three years.