Advanced Micro Devices (AMD) announced the purchase of Nod.AI, an artificial intelligence (AI) software business, on Tuesday in an effort to expand its open-source AI products and services.
Advanced Micro Devices paid an unknown fee for the Santa Clara, California-based AI software expert.
AMD. “AMD To Acquire Open-Source AI Software Expert Nod.ai.”
According to AMD, Nod.ai technology will be used in its Instinct data-center accelerators, Ryzen CPUs, and Radeon GPUs.
AMD is aiming to capitalize on the need for generative AI technology with this acquisition. According to the business, Nod.ai’s offerings will provide its users with developer tools, libraries, and machine learning models.
“The acquisition of Nod.ai will significantly improve our ability to provide AI customers with open software that allows them to easily deploy highly performant AI models optimized for AMD hardware,” said AMD Senior Vice President of AI Vamsi Boppana.
Nod.AI was formed in 2013 with funding from 8Square Capital, Atlantic Bridge, Pointguard Ventures, and Walden International.
The technologies developed by Nod.AI have been employed by corporations and startups, and the AMD acquisition will allow its products to be used by a wider, worldwide customer base.
At 1:40 p.m., AMD shares were up 1.7%. On Tuesday, Eastern Time. The company’s third-quarter earnings are scheduled on November 7.