Nvidia (NASDAQ:NVDA) stock is a hot topic on Wednesday after the semiconductor company announced its acquisition of Run:ai.
Run:ai is a workload management and orchestration software provider that operates on Kubernetes. This is the “orchestration layer” that is used for modern artificial intelligence (AI).
Omri Geller, co-founder and CEO of Run.ai, said the following about the Nvidia acquisition:
“Run:ai has been a close collaborator with NVIDIA since 2020 and we share a passion for helping our customers make the most of their infrastructure […] We’re thrilled to join NVIDIA and look forward to continuing our journey together.”
NVDA Stock: Terms of the Acquisition
Nvidia didn’t reveal how much money it’s spending to acquire the AI startup. However, insiders previously reported that the tech giant would pay $700 million to bring the business into its fold.
Nvidia notes that it will continue to offer Run.ai’s current products following the acquisition. The company will also continue to invest in the AI startup as part of its Nvidia DGX Cloud roadmap.
NVDA stock is up 1% as of Wednesday morning with more than 12 million shares traded. That’s still below its daily average trading volume of about 53 million shares.
Investors who are searching for more of the latest stock market stories on Wednesday are going to want to stick around!
We are offering up insight into all of the hottest stock market stories that traders will want to read about today! A few examples include what’s happening with shares of Amesite (NASDAQ:AMST), Tesla (NASDAQ:TSLA) and Stellantis (NYSE:STLA) stock today. All of that news is readily available at the links below!
More Stock Market News for Wednesday
- Why Is Amesite (AMST) Stock Up 74% Today?
- TSLA Stock Alert: Tesla Axes Plans for $25,000 Model 2
- Stellantis Layoffs 2024: What to Know About the Latest Jeep Job Cuts
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
