Graphics processing and artificial intelligence company NVIDIA announced its acquisition of data management and cloud storage company SwiftStack last March 26, 2020.
SwiftStack’s massive cloud storage capabilities can help NVIDIA support large-scale machine artificial intelligence and machine learning deployments. The secure storage can be embedded in NVIDIA’s DGX server and supercomputer for accelerated AI applications.
The two companies did not disclose the terms of the deal and the amount involved, however, SwiftStack recently raised $23.6 million in funding. This funding round was led by Mayfield Fund and OpenView Venture Partners, plus other investors like Storm Ventures and UMC Capital.
Since 2019, the two companies have been working together to improve NVIDIA’s networks. SwiftStack provides state-of-the-art data analytics and computing services, which help with on-site processing.
According to reports, SwiftStack joined NVIDIA’s network of data solutions provider mid-2019. Its technology was deployed to the core system of the AI specialist and allows real-time changes. This feature is integral for applications, especially for media industries.
“Building AI supercomputers is exciting to the entire SwiftStack team. We couldn’t be more thrilled to work with the talented folks at NVIDIA and look forward to contributing to its world-leading accelerated computing solutions,” said SwiftStack co-founder Joe Arnold.
While the acquisition deal isn’t clear, SwiftStack said it would continue to service its long-time clients like PayPay Holdings Inc., Rogers Communications Inc., Snapfish, and Verizon Communictions Inc., and DC Blox Inc. Meanwhile, NVIDIA will merge SwiftStack’s technology into its existing AI capabilities.
Dominating AI Solutions
Part of the reason for the SwiftStack’s acquisition is NVIDIA’s goal to dominate not just the artificial intelligence industry but also partake in the storage solutions market. However, the company cleared out that they do not intend to be a storage vendor. “We work closely with our storage partners. This acquisition is designed to further the integration between two different storage technologies and the work we do for AI,” said head of enterprise Manuvir Da.
By integrating high-quality storage solutions, the company can speed up graphics processing and software library. In addition, NVIDIA also strives to support AI without the need to create an entire stack, all the way from the GPU and the applications itself.
“If you look closely at NVIDIA now, we spend most of our energy on the software for different kinds of AI applications.”
The deal is expected to close in the coming weeks after the regulatory approval.