Red Hat, the IBM-owned open source software firm, is acquiring Neural Magic, a startup that optimizes AI algorithms to run on commodity processors.
The transaction is subject to applicable regulatory reviews and other customary closing conditions. The terms weren’t disclosed.
MIT research scientist Alex Matveev and professor Nir Shavit founded Somerville, Massachusetts-based Neural Magic in 2018, inspired by their work in high-performance execution engines for AI.
Neural Magic’s software aims to processes AI workloads on processors at speeds equivalent to specialized chips. By running AI models through off-the-shelf processors, which usually have more available memory, the company’s software can realize speedups.
