Intel acquires Nervana Systems

By Sumit Modi
Share

Intel is set to acquire AI and cloud service startup Nervana Systems, to expand its own product offering.

Intel makes chips which run over 90 percent of computer servers in the world, and its processors dominate data centers, but they are not built for the complications inherent in AI.

Nervana’s unique expertise will allow Intel access to a previously untapped market, as it is predicted by many industry experts that artificial intelligence may dwarf cloud computing.

While Intel has not disclosed the amount paid for Nervana, a source has valued it at around $408 million. Nervana was founded in 2014, and has a team of just 48 people.

This acquisition is not just helpful for Intel’s expansion, but ensures a leg-up for Nervana, which now has access to technology and resources no member of the team could have foreseen. 

 

Follow @BizReviewUSA and @NellWalkerMG

Read the August issue of Business Review USA & Canada here

Share

Featured Articles

Over Half of US CEOs Back Trump to Boost Global Economy

52% of US CEOs pick Donald Trump over Kamala Harris when it comes to boosting the world economy. CEOs outside of America though are equally divided

Why the Cloud is Murky for Microsoft CEO Satya Nadella

On the face of it, demand has never been higher for Microsoft Azure’s data-centre capacity. So why is Microsoft forecasting slower cloud revenue growth?

Businesses Are Scapegoat in UK Budget Tax Rises

Owners of larger businesses will shoulder burden of almost all this year’s £25bn tax hike, leading to estimated 50,000 job losses and lower pay awards

What Can McDonald's CEO Do to Win Back Trust?

Leadership & Strategy

5 Things Spelling Trouble for Alphabet CEO Sundar Pichai

Technology & AI

How Standard Chartered CEO Bill Winters Is Shaking Things Up

Leadership & Strategy