AMD's Nod.ai Acquisition Marks a New Era in Open Source AI Innovation

Advanced Micro Devices, Inc AMD agreed to acquire Nod.ai to expand the company's open AI software capabilities. The financial terms of the transaction remained undisclosed. 

The addition of Nod.ai will bring an experienced team that has developed an industry-leading software technology that accelerates the deployment of AI solutions optimized for AMD Instinct data center accelerators, Ryzen AI processors, EPYC processors, Versal SoCs, and Radeon GPUs to AMD. 

The agreement aligns with the AMD AI growth strategy centered on an open software ecosystem that lowers the barriers of entry for customers through developer tools, libraries, and models.

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"The acquisition of Nod.ai is expected to significantly enhance our ability to provide AI customers with open software that allows them to easily deploy highly performant AI models tuned for AMD hardware," said Vamsi Boppana, senior vice president of the Artificial Intelligence Group at AMD. 

Anush Elangovan, co-founder and CEO, Nod.ai said, "Our journey as a company has cemented our role as the primary maintainer and major contributor to some of the world's most important AI repositories, including SHARK, Torch-MLIR, and OpenXLA/IREE code generation technology."

Nod.ai delivers optimized AI solutions to top hyperscalers, enterprises, and startups. 

AMD held $6.3 billion in cash and equivalents as of July 1.

Price Action: AMD shares traded higher by 2.41% at $109.55 on the last check Tuesday.