Intel has announced that it has acquired Habana Labs for $2 billion. Habana Labs is an Israeli company that develops programmable deep learning accelerators for data centers.
The acquisition will help Intel speed up its efforts in the fast-growing AI silicon market. The company believes the market will touch the $25 billion mark in 2024. The acquisition will also strengthen Intel’s AI portfolio.
After the acquisition, the Habana team will still be an independent unit. The company will also be retaining its current management team. The company will be reporting to Intel’s Data Platforms Group. Habana will now have access to Intel’s AI capabilities which will help it scale and accelerate its work. The company will also be based out of Israel where Intel enjoys a significant presence. Prior to the acquisition, Intel 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’re thrilled to be officially joining the team.”
Intel and Habana’s combined IP and expertise is due to deliver an unmatched computing performance for AI workloads in the data center.