April 26, 2024

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[THE INVESTOR] Korea’s IT developer Samsung SDS said on May 10 it has bought stake in US-based graphics processing unit virtualization solution provider Bitfusion.

Samsung SDS did not provide details of the deal, including the size of the shares acquired and price, citing business issues.

The Korean company said the deal will help the company improve its competitiveness in the cloud computing business, as Bitfusion’s technologies will help in improving GPU performance.

The GPU industry has been expanding sharply on the back of the development of artificial intelligence and big data technologies, Samsung SDS said.

Samsung SDS has been joining forces with major tech giants such as Amazon and Microsoft to beef up its cloud computing operations.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)