Intel acquires Nervana Systems
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.
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