Cloud Provider Nebius Agrees to Buy AI Startup for $643 Million (1)

Cloud computing provider Nebius Group NV agreed to buy Eigen AI, a startup that boosts the performance of chips used to run artificial intelligence tasks, for about $643 million in stock and cash.

The deal includes about $98 million in cash and 3.8 million Nebius shares, the Dutch company said in a statement on Friday. The valuation is based on Nebius’s 30-day weighted average stock price.

Eigen, a 20-person California startup cofounded by alumni of a prominent MIT AI lab, works on optimizing the performance of some of the leading open-source models from OpenAI, Alibaba Group Holding Ltd., Meta Platforms Inc. and ...