Anthropic Targets $2 Trillion Valuation in Planned IPO 
Supreme Court Takes Up Exxon, Suncor Climate Case 
Morgan Stanley Bitcoin ETF Nears $1 Billion Milestone 
Bajaj Finance Shares Rise 3.4% as AUM Jumps 27% 
Revolut Challenges Banking Giants With Global Expansion 
Kraken Parent Payward Adds 24/7 Settlement With Singapore Gulf Bank 
Micron Forecast Tops Estimates as AI Memory Demand Stays Strong 
BofA Raises Coinbase Stock Target to $203 on Stablecoin Growth 
Oil Prices Fall as Middle East Exports Recover, G7 Eases Supply Fears 
Asian Currencies Slide as Dollar Rises, Euro Hits 17-Month Low 
India-US Trade Deal Talks Hit Plateau, Sitharaman Says 
XRP Ledger Batch Upgrade Set for October 9 Mainnet Launch 
Europe EV Sales Hit Record as Affordable Models Boost Demand 
OpenAI, Anthropic Back Mandatory AI Breach Reporting in Australia 
European Stocks Diverge as French Fiscal Crisis Hits CAC 40 
China Shuts 670 Banks as Bitcoin Eyes Financial Risks 
Middle East Oil Exports Top Pre-War Levels Despite Hormuz Attacks 
Add as a preferred source on Google
Advanced Micro Devices (AMD) has revealed its strategic move to acquire artificial intelligence (AI) startup Nod.ai, highlighting a shift in its software-centric approach to challenge leading chipmaker Nvidia.
Investing in Critical Software for Advanced AI Chips
To close the gap with Nvidia, AMD recognizes the importance of investing heavily in the software required for its advanced AI chips. Nvidia has established dominance by creating powerful software and a large software developer ecosystem. According to Reuters, AMD aims to build a unified collection of software capable of powering its diverse chip portfolio.
The acquisition of Nod.ai aligns perfectly with AMD's strategy. Nod.ai's technology facilitates the seamless deployment of AI models specifically optimized for AMD's chips.
With its customer base primarily consisting of large data center operators, Nod.ai's technology complements AMD's focus on serving this market segment.
AMD President, Victor Peng, expressed the company's commitment to executing its software strategy through both internal investment and external acquisitions. This acquisition is a testament to AMD's dedication to bolstering its software capabilities, a Yahoo report emphasized.
Expanding AMD's AI Group, Hiring Plans
AMD established its AI group, including the Nod.ai team, earlier this year. With approximately 1,500 engineers, predominantly focused on software development, the group will further expand with the addition of 300 new hires in 2021. This growth trajectory is expected to continue into 2024.
While AMD did not disclose the financial details of the Nod.ai acquisition, this marks the company's second strategic acquisition in recent months. In response to inquiries about potential future acquisitions, Victor Peng stated that AMD constantly evaluates new opportunities.
As AMD strives to position itself as a leader in the AI chip market, acquiring Nod.ai signifies a significant step forward in strengthening its software capabilities. With an ever-expanding team of software engineers and a commitment to internal and external investments, AMD is focused on solidifying its presence in this rapidly evolving industry.
