Intel buys San Diego’s Nervana Systems

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 familiar with the deal. The sale gives Nervana the resources, semiconductor expertise and customer access to flesh-out its artificial intelligence technology — which is made up of…

Link to Full Article: Intel buys San Diego’s Nervana Systems

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