Key facts
- Nvidia acquired Kumo AI for over $400 million.
- Kumo AI builds predictive AI models using structured business data.
- Kumo's three co-founders have joined Nvidia.
- NVDA stock fell 1% on Thursday after the news.
- Kumo was founded in 2022 by researchers connected to Stanford University.
Nvidia has acquired enterprise AI startup Kumo AI for over $400 million. The deal was confirmed by an Nvidia executive on LinkedIn. Kumo AI, founded in 2022 by researchers connected to Stanford University, specializes in building predictive AI models using structured business data, employing techniques like synthetic data and graph machine learning. Their models can predict customer churn and credit default risk. The startup had previously raised $37 million in venture capital from investors including Sequoia Capital. Kumo's three co-founders, Vanja Josifovski, Jure Leskovec, and Hema Raghavan, have transitioned to Nvidia as employees. Nvidia's acquisition strategy involves integrating Kumo's technology into its AI foundry software or leveraging its researchers for new enterprise foundation models. This acquisition is part of Nvidia's ongoing effort to expand its AI ecosystem, having acquired over 100 startups in recent years, including significant deals for Groq and Run.ai. Nvidia stock (NVDA) experienced a 1% decline on Thursday following the news.