Intel (INTC) Stock Up, Acquires Nervana Systems

NEW YORK (TheStreet) — Shares of Intel (INTC) were higher in pre-market trading on Wednesday as the company said it would buy start-up Nervana Systems late yesterday. The move comes as the Santa Clara, CA-based chipmaker is boosting its artificial intelligence capabilities, Reuters noted. Nervana, which is based in San Diego, will help develop Intel’s artificial intelligence portfolio and bolster the deep learning performance of Intel Xeon and Intel Xeon Phi processors, according to a statement. Terms of the deal were not made public.  Nervana’s investors include Global Playground, CME Ventures, Lux Capital, Allen & Co. and AME Cloud Ventures, Reuters said. Separately, TheStreet Ratings Team has a “Buy” rating with a score of B+ on the stock. The company’s strengths can be seen in multiple areas, such as its revenue growth, reasonable…

Link to Full Article: Intel (INTC) Stock Up, Acquires Nervana Systems

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!