M&A News: Intel Corporation (INTC) Buys AI Startup Nervana Systems

Intel Corporation (NASDAQ:INTC) has announced that it is planning to purchase AI startup Nervana Systems. Intel’s acquisition on Nervana will add to its portfolio and allow the smaller company to continue its efforts in deep learning. Nervana will continue to operate out of its headquarters in San Diego. It will also keep its current employees and brand after the acquisition is completed. Nervana said that it will still be working on its same projects after the acquisition by Intel. This includes its Nervana Neon deep learning framework, Nervana deep learning platform, and the Nervana Engine deep learning hardware. “Their IP and expertise in accelerating deep learning algorithms will expand Intel’s capabilities in the field of AI,” Diane Bryant, the Executive Vice President and General Manager of Intel’s Data Center Group, said in a statement. “We will…


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