Intel buying chipmaker Movidius to boost artificial-intelligence efforts

Intel Corp. INTC, +1.36%   said it would acquire Movidius Ltd., a maker of semiconductors for drones and other autonomous machines, a move that would bolster Intel’s artificial intelligence portfolio amid its desire to become a bigger player in the space. Summit Bridge Capital, ARCH Venture Partners and Sunny Optical Technology Group became investors in Movidius through a $40 million financing round in April 2015. Atlantic Bridge Capital, AIB Seed Capital Fund, Capital-E, DFJ Esprit and Robert Bosch Venture Capital invested earlier. Terms of the transaction weren’t disclosed. The deal, subject to certain closing conditions, was announced in blog posts Monday. Movidius specializes in computer vision technology that allows machines to understand their surroundings and navigate accordingly. Movidius’s customers, such as Alphabet Inc.’s GOOG, +1.12% GOOGL, +1.40%   Google and…

Link to Full Article: Intel buying chipmaker Movidius to boost artificial-intelligence efforts

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