- Before this acquisition, Intel Capital was an investor in Habana
- Habana will report to Intel’s data platforms group
Intel Corporation has acquired Israel-based artificial intelligence (AI) chipmaker Habana Labs for approximately $2 billion. Habana will remain an independent business unit and will continue to be led by its current management team. Intel expects the AI silicon market to reach a valuation greater than $25 billion by 2024.
Habana will report to Intel’s data platforms group and this will give Habana access to Intel AI capabilities like expertise in AI software, algorithms and research. Navin Shenoy, executive vice president and general manager of the Data Platforms Group at Intel said, “This acquisition advances our AI strategy, which is to provide customers with solutions to fit every performance need from the intelligent edge to the data centre. This acquisition advances our AI strategy, which is to provide customers with solutions to fit every performance need from the intelligent edge to the data centre.”
Intel Capital was an investor in Habana before
Habana will continue to be based in Israel where Intel has a significant presence and history of investment. Before this acquisition, Intel Capital was an investor in Habana. David Dahan, CEO of Habana said, “We have been fortunate to get to know and collaborate with Intel given its investment in Habana, and we are thrilled to be officially joining the team. Intel has created a world-class AI team and capability. We are excited to partner with Intel to accelerate and scale our business. Together, we will deliver our customers more AI innovation, faster.”
