Tech giant Intel acquires AI startup run by Indian-origin entrepreneur

Tech giant Intel recently acquired California-based deep learning startup Nervana Systems, run by an Indian-origin entrepreneur, allowing the the chip maker to foray into the world of Artificial Intelligence (AI). Source : Forbes 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 $408 million, Recode, a technology news website that focusses on the business of Silicon Valley reported. Diane Bryant, Executive Vice President of Data Center Group at Intel said, Today, I am excited to announce that Intel signed a definitive agreement to acquire Nervana Systems, a recognised leader in deep…


Link to Full Article: Tech giant Intel acquires AI startup run by Indian-origin entrepreneur