Nvidia has completed its acquisition of Run:ai, an Israeli startup that helps manage and optimize artificial intelligence (AI) hardware infrastructure.

Run:ai posted news of the deal on its website on Monday and the company said Nvidia additionally plans to open source its software. The company's software remotely schedules Nvidia GPU resources for AI in the cloud.

Run:ai founders Omri Geller and Ronen Dar said in a press release that open sourcing its software will help the community build better AI, faster.

"Open sourcing the software will enable it to extend its availability to the entire AI ecosystem," Run:ai said in a statement.

Nvidia announced its intent to acquire Run:ai in April with the price tag of 700 million U.S. dollars. The European Commission approved the deal in December.