The Canadian startup’s CEO Nick Romano announced the acquisition in a LinkedIn post Wednesday. Neither firm disclosed the terms of the deal, and Deeplite did not respond to a request for comment. (The Logic)
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The Canadian startup’s CEO Nick Romano announced the acquisition in a LinkedIn post Wednesday. Neither firm disclosed the terms of the deal, and Deeplite did not respond to a request for comment. (The Logic)
Talking point: Today’s widely used AI tools like generative chatbots or object-detection systems train and run on cloud services powered by servers in massive data centres. Deeplite’s software makes it easier to run AI applications on chips in devices like phones and robots. Its client base of semiconductor companies aligns with that of STMicroelectronics, which designs and manufactures chips for customers. Toronto has a particularly strong ecosystem of developers writing software to control and optimize hardware to run AI. Deeplite raised US$6.47 million, according to PitchBook data, with Canadian backers including BDC Capital, Desjardins Capital and Somel Ventures.
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