Nvidia plans to acquire Israeli AI company AI21 Labs for up to $3 billion.

[Nvidia in talks to acquire Israeli AI company AI21 Labs for up to $3 billion] According to a report by the Israeli financial daily Calcalist on Tuesday, Nvidia (NVDA.O) is in advanced talks to acquire Israeli artificial intelligence startup AI21 Labs for $2 billion to $3 billion. A funding round in 2023 valued AI21 Labs at $1.4 billion. Nvidia and Alphabet's Google (GOOG.O) participated in that round. Founded in 2017 by Amnon Shashua and two others, AI21 Labs is one of many startups benefiting from the AI boom. Shashua is also the founder and CEO of self-driving car technology developer Mobileye. 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 lie in its team of approximately 200 employees, most of whom hold advanced degrees and possess "rare expertise in artificial intelligence development." Based on an average cost per employee, the acquisition is estimated to be between $10 million and $15 million per person.