The acquisition of Nod.ai is part of AMD's broader strategy to invest in and expand its AI group, which currently employs about 1,500 engineers. The company plans to add 300 more hires this year and further expand in 2024. This is AMD's second acquisition in recent months, and the company is open to more acquisitions to enhance its portfolio.
Key takeaways:
- AMD plans to acquire an artificial intelligence startup called Nod.ai to enhance its software capabilities.
- The acquisition is part of AMD's strategy to compete with rival chipmaker Nvidia by investing heavily in the software necessary for advanced AI chips.
- Nod.ai's technology allows companies to deploy AI models that are optimized for AMD's chips, and the company sells its technology to large data center operators among other customers.
- AMD has created an AI group that employs about 1,500 engineers, with plans to expand the team with 300 additional hires this year and more in 2024.