Intel in Israel
Intel in IsraelFlash 90

U.S. chip giant Intel announced it has acquired Israeli Artificial Intelligence chip developer Habana Labs for $2 billion. Habana Chairman Avigdor Willenz, who was also the first investor in the country, agreed to serve as a senior advisor to the business unit as well as to Intel. Willenz is considered one of the leading chip manufacturers and is currently involved in founding and investing in several startups in the field, including Lightbit Labs and DustPhotonics.

Habana CEO David Dahan said, "We have been fortunate to get to know and collaborate with Intel given its investment in Habana, and we’re thrilled to be officially joining the team. Intel has created a world-class AI team and capability. We are excited to partner with Intel to accelerate and scale our business. Together, we will deliver our customers more AI innovation, faster."

Willenz is also one of the founders of Annapurna sold to Amazon in 2015 in a $370 million deal. Before this transaction, Intel Capital was an investor in Habana. Other Habana investors include Lip-Bu Tan's WRV Capital (Lip-Bu Tan is CEO of Cadence Design Systems), Bessemer Venture Partners, Battery Ventures, and Samsung.

Habana Labs operates in Tel Aviv, Caesarea, San Jose, Beijing, and Gdansk. It was founded in 2016, and since then has raised $120 million. Its latest financing round took place in November 2018, when it raised $75 million.