Intel acquires start-up co-founded by Indian-origin biz man

Tech-giant Intel today acquired California-based deep learning start-up Nervana Systems run by an Indian-origin entrepreneur, allowing the the chip maker to 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, Recode, a technology news website that focuses on the business of Silicon Valley reported. “Today, Iam excited to announce that Intel signed a definitive agreement to acquire Nervana Systems, a recognised leader in deep learning,” Diane Bryant, Executive Vice President of Data Center Group at Intel said. “We will share…


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