Intel Buys San Diego Artificial Intelligence Company

Intel’s Diane Bryant with Nervana’s co-founders Naveen Rao, Arjun Bansal, Amir Khosrowshaki and Intel vice president Jason Waxman. Photo courtesy of Intel By Mike Freeman, The San Diego Union-Tribune San Diego’s Nervana Systems, which has developed an artificial intelligence platform for analyzing massive amounts of data, has agreed to be acquired by Intel. The 48-employee company will remain in San Diego and operate under its own brand name, said co-founder and Chief Executive Naveen Rao. Founded in 2014 by computational neuro-scientists, Nervana raised more than $25 million from investors to design a neural network computing system that can learn on its own. The purchase price was not disclosed. But technology website Recode, founded by former Wall Street Journal tech journalists, reported that Intel will pay around $408 million for Nervana, citing sources…

Link to Full Article: Intel Buys San Diego Artificial Intelligence Company

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