Intel acquires start-up co-founded by Indian-origin biz man

Tech-giant Intel today acquired California-based deep learning start-up Nervana Systems run by an Indian-origin entrepreneur, allowing the the chip maker to foray into the world of Artificial Intelligence. 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 USD 408 million, Recode, a technology news website that focuses on the business of Silicon Valley reported. “Today, Iam excited to announce that Intel signed a definitive agreement to acquire Nervana Systems, a recognised leader in deep learning,” Diane Bryant, Executive Vice President of Data Center Group at Intel said. “We will share…

Link to Full Article: Intel acquires start-up co-founded by Indian-origin biz man

Pin It on Pinterest

Share This

Join Our Newsletter

Sign up to our mailing list to receive the latest news and updates about and the Informed.AI Network of AI related websites which includes Events.AI, Neurons.AI, Awards.AI, and Vocation.AI

You have Successfully Subscribed!