Computing giant Intel plans to bolster its artificial intelligence portfolio by buying Israel's Habana Labs for $2 billion, Intel announced Monday.
Habana develops cost-efficient artificial intelligence processors that boost AI performance in data centers and the cloud.
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"This acquisition advances our AI strategy, which is to provide customers with solutions to fit every performance need – from the intelligent edge to the data center," said Navin Shenoy, executive vice president and general manager of Intel's Data Platforms Group.
Shenoy said that Habana "turbo-charges our AI offerings."
According to the terms of the sale, Habana will stay an independent business unit and its current management team will remain in place. Habana chairman Avigdor Willenz has agreed to serve as a senior advisor to Intel as well as to the Habana business unit.
The Habana headquarters will remain in Israel.
Habana CEO David Dahan said that his company was "thrilled" to be joining Intel's "world-class AI team."
"Together, we will deliver our customers more AI innovation, faster," Dahan said.
