NVIDIA, one of the world's leading chipmakers, announced a significant investment of $500 million in the establishment of a new development center in Tel Aviv. The center will focus on developing advanced AI and machine learning technologies.

The investment includes the recruitment of 300 Israeli engineers and developers over the next two years. The center will be involved in developing the next generation of GPUs and AI solutions for the enterprise market.

"Israel is a global center of innovation in the technology field. Our investment reflects our confidence in the local capabilities and potential growth."

Impact on the Local Industry

The investment is expected to have a significant impact on the Israeli technology industry. It will create hundreds of high-quality job opportunities and strengthen Israel's position as a global development center.

In addition, NVIDIA plans to collaborate with Israeli universities and invest in academic research in the field of AI.