Wedoany.com Report-Dec.31, According to reports, Nvidia is in advanced negotiations to acquire Israeli artificial intelligence startup AI21 Labs, with the deal potentially valued at up to $3 billion.

In a 2023 funding round, AI21 Labs was valued at $1.4 billion, with Nvidia and Google, a subsidiary of Alphabet, participating in that round.

Founded in 2017 by Amnon Shashua and others, AI21 Labs is one of the startups that has risen with the AI boom, attracting significant attention from venture capital firms and other investors. Shashua is also the founder and CEO of Mobileye, a developer of autonomous driving technology. Sources indicate that AI21 Labs has long been open to a sale, and negotiations with Nvidia have made significant progress in recent weeks. The report also mentions that Nvidia's primary interest in AI21 Labs appears to be its team of approximately 200 people, most of whom hold advanced academic degrees and possess "scarce professional expertise in AI research and development." The report states that the acquisition is expected to be valued in the range of $2 billion to $3 billion.

Nvidia's current market capitalization has surpassed $4 trillion, making it the world's most valuable company. The company is planning a major expansion of its operations in Israel, intending to build a new R&D campus in the Kiryat Tivon area south of Haifa, which could eventually accommodate up to 10,000 employees. Haifa is Israel's third-largest city.

Nvidia CEO Jensen Huang has referred to Israel as the company's "second home."

Nvidia stated that the design of this R&D campus is inspired by its headquarters in Santa Clara, California, USA. The total site area is 90 dunams (approximately 8.9 hectares). Upon completion, it will include 160,000 square meters of office space, campus green areas, and public spaces. The project is expected to commence construction in 2027, with the first employees moving in by 2031.