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00:02Advanced Micro Devices announced Monday that it agreed to acquire AI company World Labs
00:07in an all-stock transaction valued at about $8.2 billion, according to Benzinga.
00:12The deal is expected to strengthen AMD's development of AI hardware, software, and systems.
00:17World Labs develops spatial intelligence models that create, reconstruct, and simulate interactive
00:223D environments from text, images, and video. The company also develops technology for robot
00:27learning and simulation. World Labs co-founder and CEO Fei-Fei Li will join AMD as Executive
00:32Vice President and Chief Scientist. AMD CEO Lisa Su said the team's research and model expertise
00:39will help AMD develop computing platforms for the next generation of AI. AMD shares were up by 0.08%
00:46to $608.38 after the close on Monday, according to Benzinga Pro.
00:52For all things money, visit Benzinga.com.
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