Intel acquires AI startup in data centre push

Intel has acquired artificial intelligence (AI) startup Nervana Systems in an effort to bolster its data centre portfolio for the future. The move comes as the chipmaker attempts to steer away from its lagging PC business, which recently reported falling Q2 results for desktop and laptop sales. While Intel has not revealed any financial details of the deal, reports suggest that the acquisition closed at around $408 million (approx. £314 million). San Diego-based Nervana – a 48-person startup – is headed by co-founder and former Qualcomm researcher Naveen Rao. The company was set up two years ago and delivers cloud-based software and hardware for deep learning applications. Intel’s data centre business, its most-profitable and fastest-growing unit, is keen to advance deep learning and AI algorithms, fending off competition from rivals…

Link to Full Article: Intel acquires AI startup in data centre push

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