Nvidia nears deal to acquire Mellanox Technologies

Nvidia nears deal to acquire Mellanox Technologies

Nvidia is set to acquire data center chipmaker Mellanox for around $7bn after reportedly outbidding Intel, accounts have claimed.

Nvidia CEO, Jensen Huang, had the following to say on the acquisition: "The emergence of AI and data science, as well as billions of simultaneous computer users, is fueling skyrocketing demand on the world's datacenters".

It has already won over data centre owners: the unit that serves that market has tripled sales in the last three years. Nvidia shares gained 4.8 percent at 11:38 a.m. Monday in NY to $157.79.

Nvidia said it believes that market for it and Mellanox is worth about $60 billion: $50 billion for Nvidia's computing chips and $11 billion for Mellanox's high-speed networking chips. In the wake of its trade row with the United States, China has previously moved to thwart non-Chinese chip M&A deals. Once complete, the combination is expected to be immediately accretive to profit and free cash flow, Nvidia said.

With the acquisition, the of Nvidia and Mellanox will have "every major cloud service provider and computer maker" as a customer. "Addressing this demand will require holistic architectures that connect vast numbers of fast computing nodes over intelligent networking fabrics to form a giant datacenter-scale compute engine".

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The deal will strengthen NVDA's ability to offer datacenter-scale computing solutions optimized across computing, networking and storage, that can accelerate datacenter-scale workloads.

Both Nvidia and Mellanox contributed to the creation of two supercomputers operated by the U.S. Department of Energy and between them power over 250 of the world's 500 most powerful supercomputers.

Nvidia is best known for graphical processors, which are used in video and game production but have also become surprisingly proficient at intensive computing tasks such as cryptocurrency mining and artificial intelligence.

The transaction now needs approval from regulators.

Credit Suisse and JP Morgan advised Mellanox, while Goldman Sachs advised Nvidia.

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