The Canadian startup has “entered into a transaction” with the Santa Clara, Calif.-based chip giant, and will “no longer be supplying or supporting” its hardware and software products, Bob Beachler, Untether’s vice-president of product, said in a statement. AMD spokesperson Brandi Martina said the firm is acquiring “a talented team of AI hardware and software engineers.” Neither side disclosed terms of the deal. (The Logic)

Talking point: Founded in June 2017, Untether developed chips designed to mirror the way that machine learning systems do math, which was meant to make them more efficient than other processors. While Nvidia dominates the market for training AI, the Canadian startup was chasing the market for running models and applications. According to PitchBook data, the firm had raised US$168 million from backers including CPP Investments, Intel Capital and Radical Ventures, but its last major round came in July 2021. AMD already has a large operation in the Toronto area, following its acquisition of Markham, Ont.-based ATI in October 2006.