AMD to Buy ZT Systems in $4.9 Billion Challenge to Nvidia
- Purchase price includes contingent payment of $400 million
- AMD adding data center technology to catch AI leader Nvidia
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Advanced Micro Devices Inc. agreed to buy server maker ZT Systems in a cash and stock transaction valued at $4.9 billion, adding data center technology that will bolster its efforts to challenge Nvidia Corp.
ZT Systems, based in Secaucus, New Jersey, will become part of AMD’s Data Center Solutions Business Group, according to a statement Monday. AMD will retain the business’s design and customer teams and look to sell the manufacturing division. The purchase price includes a contingent payment of $400 million based on certain milestones.