Nvidia on Wednesday said it has agreed to acquire Run:ai, a Tel Aviv-based provider of artificial intelligence computing workload management software. Run:ai’s website says its software is built for improving the efficiency of workloads running on graphics processing units,

Reported $700 million acquisition is aimed at helping AI users with workload management and resource allocation.

Nvidia Corp. has agreed to acquire Israeli startup Run:ai, which develops software for handling artificial intelligence computing resources.

Nvidia is acquiring Run:ai, a Tel Aviv-based company that makes it easier for developers and operations teams to manage and optimize their AI hardware infrastructure, for an undisclosed sum. Ctech reported earlier this morning the companies were in "advanced negotiations" that could see Nvidia pay upwards of $1 billion for Run:ai.