AMD is about to purchase the Nod.ai startup

AMD has announced plans to buy an AI-based software development startup, Nod.ai, to expand its software capabilities.
AMD's decision was based on the vector of implementing artificial intelligence technologies to develop AI-based microchips. Nod.ai, in turn, develops open-source AI technologies. The acquisition of Nod.ai is the next step in AMD's strategy, as its technologies enable companies to use artificial intelligence models easily.
The deal is expected to close by the end of 2023. Currently, AMD does not disclose the details of the agreement. However, it is known that AMD created a team that would oversee the Nod.ai cooperation at the beginning of the year. The team consists of more than 1,000 engineers specializing in software development. It is also planned to expand the team to an additional several hundred employees by the end of 2023.
AMD assumes that the acquisition of Nod.ai will make the company a viable competitor to Nvidia, which, in turn, has increased its revenue in the previous quarter thanks to AI, while AMD's revenue decreased by 18%.
Nod.ai was founded in 2013, focusing on developing AI-based technologies that would improve gesture recognition on devices. One of the company's prototypes is a Bluetooth ring that can be used as a game controller. Thanks to its developments, Nod.ai managed to attract millions in funding.