Intel buys Israeli AI company for $2B – The Manila Times

JERUSALEM: Leading US chip manufacturer Intel Corp. has acquired Israeli artificial intelligence (AI) company Habana Labs for about $2 billion, both companies announced Monday. Habana Labs is an AI processor company founded in 2016 and headquartered in the coastal city of Tel Aviv. After the acquisition, Habana will remain an independent business unit and will continue to be led by its current management team. "The combination strengthens Intel's AI portfolio and accelerates its efforts in the nascent, fast-growing AI silicon market, which Intel expects to exceed $25 billion by 2024," Intel said. "We are excited to partner with Intel to accelerate and scale our business. Together, we will deliver our customers more AI innovation," said David Dahan, chief executive officer of Habana.