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Investing.com -- Nvidia (NASDAQ:NVDA) has acquired Canadian AI startup CentML, bringing the company’s leadership and staff into its ranks, according to The Logic, citing sources familiar with the matter.
CentML CEO Gennady Pekhimenko has taken a position as senior director for AI software at Nvidia, while CTO Sam Wang and COO Akbar Nurlybayev have moved into management roles at the chip company. The Logic pointed out that LinkedIn profiles show that Nvidia also hired at least 15 engineers and two interns from CentML this month.
An Nvidia spokesperson declined to comment on the matter to Investing.com.
A source familiar with the deal confirmed that Nvidia acquired the Toronto-based company, including its technology, employees, and customer base. The source described the acquisition as a significant outcome for CentML and its investors.
CentML is a machine learning startup founded in 2022 that provides an optimization platform to enhance the efficiency and cost-effectiveness of AI model training and deployment.
Prior to the acquisition, CentML had secured US$30.9 million in venture capital funding, according to PitchBook data. The startup will shut down operations and discontinue its AI-optimization services on July 17, as communicated to customers by Nurlybayev.
Nvidia already had established connections with CentML, having participated in the startup’s US$27-million seed funding round in October 2023. CentML had also joined Nvidia’s accelerator program in November 2024, which provided the company with hardware discounts and technical resource access.
Nvidia stock is currently up 2.3% as of 11:42 ET amid news of the deal, continuing to push record highs on a 5-day win streak.