Microsoft Corp. has agreed to buy artificial intelligence company Nuance Communications Inc. for $16 billion, extending Chief Executive Satya Nadella’s run of big acquisitions to accelerate growth in everything from healthcare to videogaming.

Microsoft said Monday it would pay $56 per Nuance share, a 23% premium over Friday’s closing price, in a bet on the growing demand for digital tools within healthcare. The all-cash deal is Microsoft’s second largest acquisition under Mr. Nadella. The company in 2016 spent about $26 billion for professional network LinkedIn Corp.

Mr. Nadella’s deal making has taken off since that landmark purchase. Microsoft has undertaken more than 100 acquisitions in the past four years, according to data provider Dealogic, committing more than $26 billion not including the Nuance deal.