The European Commission said
Thursday that it has accepted the request submitted by Italy to
assess the proposed acquisition of Run:ai, an Israeli artificial
intelligence company, by chip giant NVIDIA under the EU Merger
Regulation ('EUMR').
The Commission said the transaction threatens to significantly
affect competition in the markets where NVIDIA and Run:ai are
active.
The proposed acquisition does not reach the notification
thresholds set out in the EUMR. But was notified in Italy, upon
a request by the national competition authority, which used its
"call in" powers enabling it to review transactions not meeting
the relevant national turnover thresholds when it finds that
they pose concrete risks for competition and the other
conditions laid down in the Italian Competition Act are met..
Rome then submitted a referral request to the Commission to
examine a merger that does not have an EU dimension but affects
trade within the Single Market and threatens to significantly
affect competition within the territory of the Member States
making the request.
On the basis of the information available, and without prejudice
to the outcome of its full investigation, the Commission said it
considers that the transaction meets the criteria for referral
requested by Italy because the transaction threatens to
significantly affect competition in the markets where NVIDIA and
Run:ai are active.
The Commission also concluded that it is best placed to examine
the transaction given its knowledge and case experience in
related markets.
The Commission has asked NVIDIA to notify the transaction and
said it cannot implement it before obtaining clearance.
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