Intel Confirms $2 Billion Habana Labs Acquisition

Intel has acquired Tel Aviv-based artificial intelligence chip developer Habana Labs Ltd. for $2 billion, the company announced Monday. Calcalist first reported on the deal earlier this month, citing sources. Habana will continue to operate as an independent business unit under its current management team and will remain in Israel. The deal marks Intel's second-largest acquisition of an Israeli company. In March 2017, Intel announced the acquisition of Jerusalem-headquartered automotive chip developer Mobileye for $15.3 billion.