ChainCatcher reports that, according to a Tuesday report by the Israeli financial daily Calcalist, Nvidia (NVDA.O) is in advanced talks to acquire Israeli artificial intelligence startup AI21 Labs for $2 billion to $3 billion. AI21 Labs was valued at $1.4 billion in a 2023 funding round, in which Nvidia and Alphabet's Google (GOOG.O) participated.
Founded in 2017 by Amnon Shashua and two others, AI21 Labs is one of many startups that have benefited from the artificial intelligence boom. Shashua is also the founder and CEO of Mobileye, a developer of autonomous vehicle technology. AI21 Labs has long been seeking a sale, and its negotiations with Nvidia have made significant progress in recent weeks.
Nvidia's primary 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." The acquisition is valued at approximately $10 million to $15 million per employee.
