AMD to acquire Pensando for $1.9 billion
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AMD to acquire Pensando for $1.9 billion

AMD to acquire Pensando for $1.9 billion

Chip designer Advanced Micro Devices Monday’s announcement stated that it would acquire cloud Startup Pensando For $1.9 billion to boost its data center products, capitalize on the booming demand from the cloud and enterprise sectors, and for $1.9 Billion to expand its business.
AMD The deal value does NOT include working capital or other adjustments.

Pensando was established in 2017 by four ex-Cisco System Inc engineers. It counts Goldman Sachs as well as Microsoft Corp’s cloud unit. Azure Customers.

Startup provides a fully-programmable processor and a platform that allows enterprise customers and data center customers, to operate more like cloud computing data centres. Amazon Amazon Web Services.

Cloud computing allows customers to order the computing power they need in any part of the globe with just a few mouse clicks. Software handles the details of moving data to the correct machines.

With AMD rivals Intel Corp. and Nvidia Corp., the lucrative business of data center chips is fraught with competition.

Nvidia has just released a new chip that will speed up artificial intelligence functions within data centers.

The deal would allow AMD to add Pensando’s platform to its range of processors and graphic chips. It is expected that the deal will close in the second quarter.

Prem Jain, Pensando’s Chief Executive Officer, and the entire team will join AMD’s Data Center Solutions Group.

AMD to acquire Pensando for $1.9 billion
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