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DigitalOcean, a cloud service firm, has acquired Paperspace for $111 million in cash. Paperspace is a provider of cloud infrastructure as a service with high-performance GPU tools that can help small and medium-sized businesses test and scale AI models on the cloud. The acquisition will allow DigitalOcean customers to benefit from Paperspace’s GPU capabilities and will have an immaterial impact on 2023 financial results while boosting revenue growth in 2024 and beyond.
