Intel announces to acquire AI chip maker HABANA Labs for $2 billion

Intel Corporation today announced that it has acquired Israeli artificial intelligence (AI) chip maker Habana Labs for about $ 2 billion. Intel said that after the completion of the transaction, Habana Labs will remain an independent business unit and will continue to be led by its current management team.

Habana Labs chairman Avidor Willenz has agreed to serve as a senior advisor to the business unit and Intel, and Habana Labs headquarters will remain in Israel.

Intel said in a statement that the deal would strengthen Intel ’s artificial intelligence solutions and further drive the company ’s efforts in the nascent, fast-growing AI market. Intel expects the market size to exceed $ 25 billion by 2024. Intel’s AI strategy is based on the belief that harnessing the power of AI to improve business outcomes requires a broad technology mix, hardware and software, and comprehensive ecosystem support.