Intel buys Artificial Intelligence start-up by Indian origin entrepreneur for 8 million

The start-up is led by former Qualcomm researcher Naveen Rao. AB Wire The chip giant Intel announced a deal to buy an artificial intelligence start-up run by an Indian origin entrepreneur, on Tuesday. Intel acquired the start-up, Nervana Systems, which was founded in 2014 and is headquartered in San Diego, California, in deal that valued at around $408 million as the computer chip colossus looks to broaden its role in data centres and the expanding internet of things. The start-up is led by former Qualcomm researcher Naveen Rao and it has raised around $25 million in venture funding. Nervana had open-sourced its Neon deep learning software last year. The company will join Intel’s Data Centre Group after the deal is closed. “We will apply Nervana’s software expertise to further optimise…


Link to Full Article: Intel buys Artificial Intelligence start-up by Indian origin entrepreneur for 8 million