Nvidia Closes $700 mln Run:ai Acquisition after Regulatory Hurdles

A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. (Reuters)
A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. (Reuters)
TT

Nvidia Closes $700 mln Run:ai Acquisition after Regulatory Hurdles

A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. (Reuters)
A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. (Reuters)

Chipmaker Nvidia has completed its acquisition of AI firm Run:ai, the startup said on Monday, following antitrust scrutiny over the buyout.

The European Commission granted unconditional approval to Nvidia's $700 million bid for Run:ai, which helps developers optimize infrastructure for AI, earlier in December after saying in October that the deal would require EU antitrust clearance.

The EU antitrust watchdog had warned that the deal threatened competition in the markets where the companies operate.

Its probe into the deal focused on practices that could strengthen Nvidia's control over the market for graphics processing units (GPUs), which are the sought-after chips often employed in AI-linked tasks, Reuters reported.

Nvidia dominates the market for AI graphics processors and commands about 80% of its share.

However, the European Commission concluded earlier in December that Run:ai's acquisition, originally announced in April, would not raise competition concerns.

The US Department of Justice is also investigating the chip giant's buyout of Run:ai on antitrust grounds, Politico had reported in August.

Regulators on both sides of the Atlantic have recently stepped up their scrutiny of tech giants' acquisitions of startups on concerns that such deals may shut down potential rivals.

Run:ai plans to make its software open-source, it said in a blog post.

"While Run:ai currently supports only Nvidia GPUs, open sourcing the software will enable it to extend its availability to the entire AI ecosystem," it said.



Meta Adds Three Board Members Including UFC Boss Dana White, Key Figure in Trump's Orbit

Dana White, CEO of the Ultimate Fighting Championship gestures as he speaks during a rally for Republican presidential nominee and former U.S. President Donald Trump at Madison Square Garden, in New York, U.S., October 27, 2024. REUTERS/Andrew Kelly/File Photo
Dana White, CEO of the Ultimate Fighting Championship gestures as he speaks during a rally for Republican presidential nominee and former U.S. President Donald Trump at Madison Square Garden, in New York, U.S., October 27, 2024. REUTERS/Andrew Kelly/File Photo
TT

Meta Adds Three Board Members Including UFC Boss Dana White, Key Figure in Trump's Orbit

Dana White, CEO of the Ultimate Fighting Championship gestures as he speaks during a rally for Republican presidential nominee and former U.S. President Donald Trump at Madison Square Garden, in New York, U.S., October 27, 2024. REUTERS/Andrew Kelly/File Photo
Dana White, CEO of the Ultimate Fighting Championship gestures as he speaks during a rally for Republican presidential nominee and former U.S. President Donald Trump at Madison Square Garden, in New York, U.S., October 27, 2024. REUTERS/Andrew Kelly/File Photo

Meta has appointed three new members to its board of directors, including Dana White, the president and CEO of Ultimate Fighting Championship and a key figure in the orbit of incoming President Donald Trump.

The social media company, which owns Facebook, Instagram and WhatsApp, is also adding auto tycoon John Elkann and tech investor Charlie Songhurst, Meta CEO Mark Zuckerberg said in a Facebook post late Monday.

White's ties with Trump date back to 2001, when White hosted a UFC at the Republican's former casino-hotel in Atlantic City, New Jersey, the Trump Taj Mahal. Trump has also appeared with White at UFC matches over the years, especially in his 2024 campaign as part of efforts to appeal to younger male voters.

White, in turn, has had speaking roles at the 2016, 2020 and 2024 Republican conventions and appeared on stage at Trump’s election victory party in November, even speaking briefly to the crowd.

White has built UFC “into one of the most valuable, fastest growing, and most popular sports enterprises in the world,” Zuckerberg said. “I’ve admired him as an entrepreneur and his ability to build such a beloved brand.”

Zuckerberg is also active in mixed martial arts. Zuckerberg and fellow billionaire Elon Musk seemingly agreed to fight in a “cage match” in 2023, but it never happened.

Elkann, another person joining Meta's board, is the CEO of Exor, a Netherlands-based investment company, and chairman of its two auto companies, Stellantis and Ferrari.

Zuckerberg said Elkann has "deep experience running large global businesses and he brings an international perspective to our board."

Songhurst previously worked at Microsoft and joined began advising Meta last year on artificial intelligence.