Red Hat, the IBM-owned open source software company, is acquiring Neural Magic, a startup that optimizes AI algorithms to run on general-purpose processors.
The transaction is subject to applicable regulatory reviews and other customary closing conditions. Terms were not disclosed.
MIT research scientist Alex Matveyev and professor Nir Shavit founded Somerville, Massachusetts-based Neural Magic in 2018, inspired by their research into high-performance execution engines for AI.
Neural Magic's software aims to process AI workloads on processors at speeds comparable to dedicated chips. The company's software can achieve speedups by running AI models through off-the-shelf processors, which typically have more available memory.