AMD Will Acquire AI Software Startup Nod.AI as it Seeks to Catch Up With Nvidia

Advanced Micro Devices announced Tuesday it will acquire Nod.AI, an open-source artificial intelligence software startup, to expand the chipmaker’s AI software operations.

Nod.AI, or Nod Labs, builds open-source technologies “for future AI systems,” according to the startup, and it mainly specializes in reinforcement learning, a type of system that “learns” via trial and error.

The acquisition is part of AMD’s “AI growth strategy” that it hopes will better shore up its competition against rival chipmaker Nvidia, which saw its revenue spike more than 100% year over year for the quarter ending July 30, 2023. During the same period, AMD reported a revenue decline of 18% but still beat analysts’ estimates for sales and profit.

Read the source article at CNBC