Intel Shares Up; Acquires Habana Labs
December 16 2019 - 11:19AM
Dow Jones News
By Michael Dabaie
Intel Corp. (INTC) shares were up in Monday morning trading.
Intel shares were up 1% to $58.38 in morning trading. The DJIA
was trading up 0.7% while the S&P 500 was up 0.9% in Monday
morning markets.
The company said earlier it acquired Habana Labs, an
Israel-based artificial intelligence chip maker, for about $2
billion.
Intel said the deal strengthens its artificial intelligence
portfolio and boosts its efforts in the AI silicon market.
"Habana turbo-charges our AI offerings for the data center with
a high-performance training processor family and a standards-based
programming environment to address evolving AI workloads," said
Navin Shenoy, executive vice president and general manager of the
Data Platforms Group at Intel.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
December 16, 2019 11:04 ET (16:04 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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