US chip giant Intel's second big exit in Israel: will buy Habana Labs for $ 2 billion

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by Ifi Reporter Category:Hitech Dec 16, 2019

US chip giant Intel will buy Israeli startup Habana Labs for $ 2 billion. Bana Labs produces chips specifically designed for artificial intelligence processing. In the announcement of the acquisition, Intel said that the founder and chairman of the company, Avigdor Vilentz, "will serve as senior advisor to the business unit as well as Intel" and that the company will continue to operate from Israel.
Intel said the two companies "could accelerate the development of the best artificial intelligence products into data centers. The integration of the companies strengthens Intel's line of artificial intelligence products and accelerates its efforts in the artificial intelligence chip market, which is now in its early stages and growing rapidly."
Habana operates in Tel Aviv, Caesarea, San Jose, Beijing and Gdansk, Poland. Habana was established in 2016 and has raised $ 120 million since its inception. The latest round of funding was in November 2018, at which time the company raised $ 75 million led by Intel
Intel expects that by 2024, the artificial intelligence market will grow to more than $ 25 billion, and that it expects artificial intelligence revenues this year to "exceed $ 3.5 billion - an increase of more than 20 percent from last year."
The Bana has so far developed two dedicated artificial intelligence processors - the artificial intelligence training stage processor called "Gaudi", which is currently undergoing testing by large customers. According to Intel's announcement, "Large Gaudi-based training systems are expected to deliver up to four times more power compared to systems built with the equivalent number of graphics processors (GPUs)." ) In artificial intelligence. According to Intel, a commercially available Goya processor, "demonstrated excellent inference performance, including power and real-time delay in a shell that offers competitive power."
According to senior vice president and general manager of Intel's Data Platform Group, Nevin Shenoy, "The acquisition advances our artificial intelligence strategy, which strives to provide customers with solutions for all performance needs - from the edge of the smart network to the data center."
Behind the construction of Habana Labs is the founder of the Galileo chipmaker, Avigdor Vilentz, who was also the first investor in the company. David Dahan, CEO, and Ran Halutz, who is Vice President of Development, were also joined by the Banana Labs. Ran Halutz is the son of former Chief of Staff Dan Halutz. The two are from Prime Sens, acquired in 2013 by Apple for $ 340 million, and whose technology has been integrated into the iPhone X. The company's business manager is Ethan Medina, who was VP The technology in Galileo. Wilenz is also one of the founders of Annapurna sold to Amazon in 2015 in a $ 370 million deal.
Israel is a world leader in the number of artificial intelligence start-ups, with close to 400 companies, placing it third in the world after the US and China according to ASGARD venture capital data. , Including research centers that develop or make substantial use of artificial intelligence technologies, stood at about 1,150 at the end of last year.
In the specific field of chip development for artificial intelligence missions, in Israel in addition to Havana Labs, there are at least two more startups - HiLo and Noroblade, which also seek to compete with the global giants. Outside of Israel, the best known company in the field is the British Grapecor.
Artificial intelligence is one of the most important and promising technology industries today. In April 2018, the McKinsey consulting firm estimated that the business value - the full value of technology use - that could be derived from the use of artificial intelligence technologies ranged from $ 3.5 to $ 5.8 trillion a year. The technology is based on algorithms that analyze large amounts of information and data (data), identify repeating patterns, generate insights from them, adapt to changes and act accordingly.
In the specific field of chip development for artificial intelligence missions, in Israel in addition to Havana Labs, there are at least two more startups - HiLo and Noroblade, which also seek to compete with the global giants. Outside of Israel, the best known company in the field is the British Grapecor.
 

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