Nvidia to buy Israel’s Mellanox for $6.8 billion in a data center push.
U.S. chipmaker Nvidia said on Monday it will buy Israeli chip designer Mellanox Technologies for $6.8 billion, beating rival Intel 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 was also part of process. Bernstein analyst Stacy Rasgon said Nvidia has been pushing more into networking and connectivity with its own tailored solutions and Mellanox would bring further expertise along these lines.
Nvidia cut its fourth-quarter revenue estimate by half a billion dollars in January because of weak demand for its gaming chips in China and lower-than-expected data center sales.
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