Intel Acquires Artificial Intelligence Startup Nervana Systems (INTC)

Leading chip-maker, Intel Corp. (INTC), announced on Tuesday its acquisition of Nervana Systems. According to a source speaking to Recode, Intel may have paid around $408 million for the artificial intelligence startup. Nervana Systems is based in San Diego and was founded by Naveen Rao, a former neural networks developer at Qualcomm. The company has developed a cloud platform, which allows consumers to build computer models that can learn. It is currently developing chips for deep learning, and this could be the main reason behind Intel’s interest in the startup. The company has already raised $25 million in venture funding and currently has a contract with the U.S. Intelligence’s venture arm – In-Q-tel. Motive of the deal Following the deal, Intel Corp. will be able to offer cloud service along…


Link to Full Article: Intel Acquires Artificial Intelligence Startup Nervana Systems (INTC)