This acquisition is part of Nvidia's strategy to diversify its revenue sources and reduce its dependence on major cloud computing players like Microsoft Corp. and Amazon.com Inc. Nvidia, the world's most valuable company, has been expanding its capabilities in software, networking, and pretrained AI models to facilitate technology adoption by a wider audience.
Key takeaways:
- Nvidia Corp. has agreed to acquire Shoreline.io, a software development startup founded by a former Amazon Web Services executive, in a deal that values Shoreline at about $100 million.
- Shoreline.io, based in Redwood City, California, creates software that identifies and helps automate the resolution of issues in computer systems.
- Nvidia, the world's most valuable company, has been acquiring startups as part of its strategy to centralize the build-out of computer systems for artificial intelligence software.
- Shoreline.io has raised approximately $57 million and is backed by investors including Dawn Capital, Insight Partners, and Canvas Ventures.