Nvidia to buy Israel's Mellanox for $6.8 billion in data center push
- U.S. chipmaker Nvidia Corp said on Monday it will buy Israeli chip designer Mellanox Technologies Ltd for $6.8 billion, beating rival Intel Corp in a deal that would help the company boost its data center business.
The deal follows a competitive bidding process, which according to sources familiar with the matter included rival chipmakers such as Intel. CNBC reported in November that Xilinx Inc too was also part of process.Intel declined to comment on whether the company had bid for Mellanox, while Xilinx did not immediately respond to a request for comment.
“But going out and buying an asset right now, immediately after the recent spate of guide downs may raise a few eyebrows,” said Rasgon. Data center revenue accounts for nearly a third of Nvidia’s sales. The chipmaker has grown at a rapid pace in the past few years under Chief Executive Officer Jensen Huang, but a slowdown in China and a fading cryptocurrency craze have started to weigh on its sales in recent quarters.
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