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SDAIA, NVIDIA Presidents Discuss Computing Power Infrastructure in Saudi Arabia

President of the Saudi Data and AI Authority (SDAIA)met on Sunday with Founder, President and CEO of NVIDIA in Riyadh - SPA
President of the Saudi Data and AI Authority (SDAIA)met on Sunday with Founder, President and CEO of NVIDIA in Riyadh - SPA
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SDAIA, NVIDIA Presidents Discuss Computing Power Infrastructure in Saudi Arabia

President of the Saudi Data and AI Authority (SDAIA)met on Sunday with Founder, President and CEO of NVIDIA in Riyadh - SPA
President of the Saudi Data and AI Authority (SDAIA)met on Sunday with Founder, President and CEO of NVIDIA in Riyadh - SPA

President of the Saudi Data and AI Authority (SDAIA) Dr. Abdullah bin Sharaf Alghamdi welcomed on Sunday the Founder, President and CEO of NVIDIA, Jensen Huang, at the authority’s headquarters in Riyadh.
During the meeting, Alghamdi and Huang discussed areas of mutual cooperation between SDAIA and NVIDIA, particularly in technological projects and exchange of expertise in the fields of data and artificial intelligence.
They also explored the latest developments in data and AI worldwide and highlighted NVIDIA's participation in the Global Smart City Forum (GSCF 2024) organized by SDAIA in Riyadh on February 12 and 13, SPA reported.
The meeting reflects ongoing cooperation between SDAIA and NVIDIA, especially in launching a multi-year program to establish a high-performance supercomputing platform in the Kingdom.
The platform will contribute to the development of various AI-supported applications in language technology and computer vision, helping to achieve the aspirations of AI adoption in the Kingdom.

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Software Maker Dye & Durham Gets Unsolicited $940 mln Go-private Offer

Software Maker Dye & Durham Gets Unsolicited $940 mln Go-private Offer
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Software Maker Dye & Durham Gets Unsolicited $940 mln Go-private Offer

Software Maker Dye & Durham Gets Unsolicited $940 mln Go-private Offer

Software maker Dye & Durham has received an unsolicited bid to take it private in a deal valued at C$1.34 billion, or C$20 per share, the Canadian company said on Tuesday, without disclosing the details of the bidder.

The company's second-largest shareholder, Plantro, has submitted a bid to take it private, Bloomberg News reported on Monday.

The offer represents a deal value of C$1.34 billion ($939.89 million), according to Reuters calculations.

The company, which had a market cap of about C$787 million based on its closing price on Friday, previously received four takeover bids in the low- to mid-$20s range late last year.

This offer, however, undervalues the company, analysts at Raymond James said in a note. "This appears to be a predatory bid to take advantage of the recent share price decline," the analysts added.

Plantro, which is controlled by former Dye & Durham CEO Matthew Proud, owns ~12.1% of the outstanding shares, data from LSEG shows.

Proud, along with his younger brother Tyler, grew the company from a C$4 million regional upstart to a C$2.56 billion giant before stepping down in November last year.

The company provides cloud-based software and technology solutions for legal and business professionals.

His exit was the culmination of a lengthy battle with discontented investors, who were against the company's debt-fueled acquisition strategy.

Last week, Dye & Durham shook up its board when chair Hans Gieskes — who was elected after a 10-month campaign by activist investor Engine Capital — stepped down from his positions.

Engine Capital's Arnauld Ajdler was made chair of the board, whereas Sid Singh succeeded Gieskes as interim CEO.