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Strategies & Market Trends : Speculating in Takeover Targets
ULBI 7.030+2.5%Oct 31 9:30 AM EST
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From: E_K_S12/16/2019 9:20:31 AM
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Intel acquires AI chipmaker for $2B

Intel (NASDAQ: INTC) announces acquiring Habana Labs for about $2B.The Israel-based company develops programmable deep learning accelerators for data centers.Intel says the purchase helps bolster its AI strategy. INTC expects to generate over $3.5B in AI-driven revenue in 2019, up 20% Y/Y.Habana will remain an independent unit under the current management team and will report to Intel's Data Platforms Group.Related: Earlier this month, Globes reported that Intel was in advanced talks to acquire Habana.
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