Nvidia’s takeover of Israeli streamlining provider Run:ai cleared a key regulatory hurdle with EU approval without conditions.

Key Takeaways Nvidia stock is higher Friday at the end of the last full week of trading in 2024 following a recent slide into technical-correction territory.Nvidia shares have fallen in nine of the last 11 trading sessions since closing at $145.

Nvidia is estimated to be paying $700 million for the Israeli AI company. The acquisition was originally announced in April.

The European Commission on Friday said it has “unconditionally” approved Nvidia’s acquisition of GPU orchestration software startup Run:ai, which the company plans to use to boost its DGX Cloud platform.

The European Commission has approved Nvidia’s acquisition of Run: ai for $700 million, clearing any competition concerns in the GPU market. Following a detailed investigation, regulators found that the deal would not harm market competition, allowing Nvidia to move forward with the acquisition

Nvidia will face no objections to its plan to acquire Israeli AI orchestration software vendor Run:ai Labs in Europe, after the European Commission gave the deal its approval Friday.

US chipmaker's purchase of Run:ai would not raise competition concerns in European market, EU Commission says, adding transaction approved unconditionally - Anadolu Ajansı