Intel Corporation (INTC) Buys AI Startup Nervana Systems To Further Research On Deep Learning

Chip manufacturing giant Intel Corp. (NASDAQ:INTC) announced in a statement yesterday that it is acquiring Nervana Systems, which focuses on deep learning tech. Intel said that it hopes to improve its AI solutions within the company. According to Recode, Intel has paid $350 million for the startup. Nervana’s CEO Naveen Rao said that the company will continue to work on its deep learning projects, which include framework, platform and hardware. After the deal is completed, the San Diego based team of 48 employees are expected to join Intel’s Data Center Group. Intel’s GM of the Data Center Group Diane Bryant was quoted as saying “Nervana’s IP and expertise in accelerating deep learning algorithms will expand Intel’s capabilities in the field of AI. We will apply Nervana’s software expertise to further optimize…


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