EU approves Nvidia's acquisition of Israeli startup Run:ai
US chipmaker's purchase of Run:ai would not raise competition concerns in European market, EU Commission says, adding transaction approved unconditionally
ISTANBUL
The EU on Friday approved the US chipmaker Nvidia's $700 million acquisition of the Israeli startup Run:ai.
The EU Commission said in a statement that Nvidia's purchase of Run:ai would not raise competition concerns in the European market, and that the transaction has been approved unconditionally.
The statement emphasized that the two companies' areas of activity do not overlap.
In April, Nvidia announced a $700 million deal to acquire Run:ai, a software provider that helps customers use AI computing resources more efficiently.
The EU Commission has the authority to oversee mergers and acquisitions of large multinational corporations operating in European countries.
The commission assesses whether there are any violations of competition rules in its reviews and investigations. If anti-competitive practices are identified, it can block mergers or acquisitions.
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