Global IT giant Intel on Wednesday has acquired California-based deep learning start-up Nervana Systems run by an Indian-origin entrepreneur,
allowing the the chip maker to make a foray into the world of Artificial Intelligence.
Co-founded by Naveen Rao in 2014 and headquartered in San Diego, California, Nervana has a fully-optimised software and hardware stack for deep learning.
The US-based chip giant isn’t actually saying how much it is paying, but a source with knowledge of the deal said it is valued at around USD 408 million, according to reports.
Today, I am excited to announce that Intel signed a definitive agreement to acquire Nervana Systems, a recognised leader in deep learning. Their IP and expertise in accelerating deep learning algorithms will expand Intel’s capabilities in the field of Artificial Intelligence.Diane Bryant, Executive Vice President of Data Center Group, Intel
Bryant has confirmed that lntel will be sharing more about Artificial Intelligence (AI) and the amazing experiences it enables at Intel Developer Forum later this month.
Intel follows in Apple’s footstep to reach the next level in its development of artificial intelligence.
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