Advanced Micro Devices (AMD) Inc. has completed the acquisition of US-based ZT Systems, a provider of hyper-scale server solutions for cloud computing and artificial intelligence, for $4.9bn.
According to AMD’s press release, the acquisition will create a new class of end-to-end artificial intelligence solutions based on its processors and software. It will also accelerate the development and deployment of scalable AI infrastructure optimised for cloud environments.
AMD expects the acquisition of ZT Systems to begin to positively impact its earnings excluding one-time factors by the end of 2025.
ZT Systems, founded in 1994, designs and manufactures servers and other infrastructure that house and interconnect chips in giant data centres that power artificial intelligence systems.
AMD announced it was buying ZT Systems for $4.9 billion last August. Earlier this month, the European Commission approved the agreement.
AMD shares are losing 3.3 per cent in value during trading on Monday. Over the past 12 months, their value has fallen 45.6 per cent.