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Nvidia Acquires Shoreline.io in $100 Million Deal
Nvidia Corp. has entered into an agreement to purchase Shoreline.io, a startup focused on software development, according to sources familiar with the transaction. The deal, which was recently concluded, values Shoreline at approximately $100 million. Both Nvidia and Shoreline have declined to comment on the acquisition.
Shoreline.io, headquartered in Redwood City, California, specializes in software designed to identify and address issues within computer systems, automating the troubleshooting process. Founded in 2019 by former Amazon Web Services executive Anurag Gupta, Shoreline has garnered financial backing from investors including Dawn Capital, Insight Partners, and Canvas Ventures. To date, it has raised around $57 million, based on data from PitchBook.
Nvidia’s acquisition spree includes startups in various sectors to expand its portfolio. The company, which boasts a market value of $3.3 trillion, often opts not to disclose acquisitions unless they are substantial. By integrating new capabilities such as software, networking, and pretrained AI models, Nvidia aims to simplify technology adoption for a wider audience.
Furthermore, Nvidia is endeavoring to diversify its revenue streams. This move is partly motivated by a desire to lessen its dependence on cloud computing giants like Microsoft Corp. and Amazon.com Inc., through which Nvidia collaborates with numerous corporations.
