International chip giant acquired Israeli company that manufactures artificial intelligence chips • The company will continue to operate as an independent business unit • Expected is the market in which the banana will grow to more than $ 25 billion by 2024 • Intel vice president: "Acquisition will plunge the supply of artificial intelligence"

• Another huge exit. Intel and Havana Labs // Photos: GettyImages (Intel Website), and Enzo Josh Ginny

Another achievement for Israeli high-tech: Intel Global announced Monday that it has acquired the local Habana Labs for $ 2 billion. Habana Labs develops artificial intelligence chips known as "deep learning accelerators" and can be programmed for data centers.

Navin Shnoy, Intel's senior vice president and CEO of the data platform group at the international company, addressed the acquisition, saying: "The acquisition advances our artificial intelligence strategy, which aims to provide customers with solutions for all performance needs - from the edge of the smart network to the data center.

"The Bana will inject our artificial intelligence offerings into data centers with high-performance training processors and a standards-based programming environment that will cope with the evolving workloads of artificial intelligence," he added.

Chairman of Habana Labs - Avigdor Vilentz // Photo: Eyal Toag

Intel expects demand for artificial intelligence to grow to more than $ 25 billion by 2024, and the company's revenue will exceed $ 3.5 billion in 2019, an increase of more than 20% from 2018.

Habana Chairman Avigdor Vilentz agreed to serve as senior advisor to the business unit as well as Intel. Habana will continue to operate from Israel where Intel also has a significant presence and long investment history, and will continue to operate as an independent business unit with its existing management team.