US cloud company Vercel acquires Egyptian startup Stakpak

US-based cloud platform Vercel, valued at US$9.3 billion, has acquired Egyptian technology firm Stakpak. Stakpak is known for its development of open-source autonomous DevOps agents.

Founded in 2023 by George Fahmy, Stakpak initially launched as an AI-powered assistant for generating infrastructure-as-code using natural language. The company later evolved into a production-grade autonomous DevOps platform designed to significantly reduce infrastructure management time.

Stakpak also introduced open-source agent frameworks and AI-driven infrastructure security systems, gaining traction with developers building self-managing cloud environments.

The startup raised US$500,000 in pre-seed funding early last year. Vercel's acquisition aligns with its strategy to expand from a web application hosting platform into a comprehensive AI infrastructure provider. This marks Vercel's third acquisition in under a year.

Vercel anticipates that future software will be increasingly developed and managed by autonomous AI agents. In September 2023, the company raised US$300 million in Series F funding, reaching a valuation of US$9.3 billion.