Microsoft has entered into a multi-billion dollar merger deal with Nvidia to acquire the chipmaker and its technology company, according to sources familiar with the matter.
The deal, to be completed by the end of the year, will include a deal to buy the entire company, which has about 1,000 employees and about a $300 billion valuation.
Nvidia, which is best known for its graphics processing unit, was founded in 1998 by a team of three Nvidia engineers, along with a number of engineers from Intel.
The company now has about 8,000 workers worldwide.
The new acquisition will bring the total number of employees at Nvidia to about 11,000.
Nolan told Bloomberg Businessweek that Microsoft has been “on the right track” in recent years and that the merger will enable the company to accelerate its next-generation business.
Nissan and Tesla are also looking to acquire Tesla.
Microsoft has made significant investments in the automotive industry over the past few years, including buying Autopilot, which enables the car to detect and respond to driver inputs, and developing the Autopano system, which helps driverless cars navigate the road.
The merger is part of a broader deal that will combine Microsoft with Nvidia in the next year or two, the sources said.
The deal is expected to close in about six months, and the deal is valued at $1 billion, the people said.
The companies will also continue to work together to develop and build an Azure cloud service.