Intel Corporation Expands AI Portfolio; Acquires Nervana Systems for 8M

Intel Corporation (NASDAQ:INTC) has acquired Nervana Systems, considered to be among the leading companies developing machine learning technology. According to recode, the deal, aimed at strengthening Intel’s artificial intelligence portfolio, is valued at around $408 million.Intel has directed its efforts toward adaptation of its Xeon computing chips for use in AI and machine learning deployments. Last year, the company released a specific version of the chip known as Xeon Phi. The chip had additional cores for faster processing in parallel, and was expected to beat competition from NVIDIA Corporation and other businesses offering chips with extensive parallel processing capabilities. The takeover will help increase data center revenues and improve Intel’s position at a time when competition has gone sky-high. According to Fortune, Nervana CEO Naveen Rao said that the chips…


Link to Full Article: Intel Corporation Expands AI Portfolio; Acquires Nervana Systems for 8M