Nvidia’s takeover of Israeli streamlining provider Run:ai cleared a key regulatory hurdle on Friday with EU approval.

Nvidia shares slowed their recent slide into technical-correction territory Friday as the tech giant received positive news that European regulators had cleared a recent acquisition of competition concerns.

Nvidia is estimated to be paying $700 million for the Israeli AI company. The acquisition was originally announced in April.

The European Commission on Friday said it has “unconditionally” approved Nvidia’s acquisition of GPU orchestration software startup Run:ai, which the company plans to use to boost its DGX Cloud platform.

The European Commission has approved Nvidia’s acquisition of Run: ai for $700 million, clearing any competition concerns in the GPU market. Following a detailed investigation, regulators found that the deal would not harm market competition, allowing Nvidia to move forward with the acquisition

Nvidia will face no objections to its plan to acquire Israeli AI orchestration software vendor Run:ai Labs in Europe, after the European Commission gave the deal its approval Friday.

The European Commission has unconditionally approved Nvidia’s $700 million bid for Israeli startup Run:ai, a deal that was under scrutiny over competition concerns. This comes after the case had been referred to the Commission by an Italian competition authority in September asking if the proposed acquisition would not result in competition concerns in the European

US chipmaker's purchase of Run:ai would not raise competition concerns in European market, EU Commission says, adding transaction approved unconditionally - Anadolu Ajansı