SUNNYVALE (dpa-AFX) - Monday, Advanced Micro Devices, Inc. (AMD) announced an agreement to acquire World Labs, an AI model and research lab led by AI pioneer Dr. Fei-Fei Li, for approximately $8.2 billion in an all-stock transaction.
With this transaction, the company aims to strengthen its ability to develop AI hardware, software and systems around the needs of emerging models and applications.
Following the close of the transaction, expected by 2026 end, Dr. Fei-Fei Li will join AMD as executive vice president and chief scientist, reporting to CEO Dr. Lisa Su.
'Fei-Fei and the World Labs team bring exceptional research leadership and model expertise. Together, we can use that insight to develop the hardware, software and systems that will power the next generation of AI and strengthen the open AI ecosystem,' said Dr. Su.
During the after hours, AMD was trading at $608.50, up 0.10 percent on the Nasdaq.
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