Nvidia shares slowed their recent slide into technical-correction territory Friday as the tech giant received positive news that European regulators had cleared a recent acquisition of competition concerns.

The European Commission said on Friday it has approved unconditionally Nvidia's $700 million bid for Run:ai. The EU's probe into the deal focused on practices that could strengthen Nvidia's control over GPUs,

Nvidia is estimated to be paying $700 million for the Israeli AI company. The acquisition was originally announced in April.

The European Commission on Friday said it has “unconditionally” approved Nvidia’s acquisition of GPU orchestration software startup Run:ai, which the company plans to use to boost its DGX Cloud platform.

Nvidia’s takeover of Israeli streamlining provider Run:ai cleared a key regulatory hurdle with EU approval without conditions.

Nvidia will face no objections to its plan to acquire Israeli AI orchestration software vendor Run:ai Labs in Europe, after the European Commission gave the deal its approval Friday.

US chipmaker's purchase of Run:ai would not raise competition concerns in European market, EU Commission says, adding transaction approved unconditionally - Anadolu Ajansı