Chip maker AMD (NASDAQ: AMD), in a bid to catch up with Nvidia (NVDA) in terms of artificial intelligence (AI) capabilities, today announced the acquisition of AI startup Nod.ai for an undisclosed amount.
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AMD expects that this acquisition will bring an “experienced team that has developed an industry-leading software technology that accelerates the deployment of AI solutions optimized for AMD Instinct data center accelerators.”
Vamsi Boppana, SVP of the Artificial Intelligence Group at AMD, commented, “The acquisition of Nod.ai is expected to significantly enhance our ability to provide AI customers with open software that allows them to easily deploy highly performant AI models tuned for AMD hardware.”
Is AMD a Buy or Sell now?
Analysts are bullish about AMD stock, with a Strong Buy consensus rating based on 22 Buys and seven Holds.