Intel is paying $2 billion to buy an Israeli startup that specializes in processing chips for artificial intelligence.

The California-based chipmaker said Monday that the purchase will help it speed up computing power and improve efficiency at data centers.

The move is part of Intel�s broader strategy to strengthen its AI business. The company expects AI services will generate more than $3.5 billion in revenue this year, an increase of more than 20% from last year.

Habana, founded in 2016, will remain an independent business led by its current management team in Caesaria, Israel, according to Intel. The startup�s first processing chip, the Goya, is commercially available. Its second was announced earlier this year.

(AP)