Nvidia To Acquire Shoreline.Io For $100M As Jensen Huang-Led AI Stalwart Aims To Cut Revenue Reliance On Microsoft, Amazon And More: Report (UPDATED)
Portfolio Pulse from Benzinga Neuro
Nvidia Corp. (NASDAQ:NVDA) has agreed to acquire Shoreline.io, a software startup, for $100 million. This acquisition aims to diversify Nvidia's revenue sources and reduce reliance on major cloud computing players like Microsoft and Amazon. Shoreline.io specializes in software that automates issue resolution in computer systems.
June 21, 2024 | 10:15 am
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Nvidia's acquisition of Shoreline.io for $100 million aims to diversify its revenue sources and reduce reliance on major cloud computing players like Microsoft and Amazon. This move is part of Nvidia's broader strategy to consolidate its position in the AI and tech industry.
The acquisition of Shoreline.io will enhance Nvidia's software capabilities, making technology adoption more accessible and reducing dependency on major cloud providers. This strategic move is likely to positively impact Nvidia's stock in the short term.
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