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Intel Acquires Deep Learning Startup For $350 M

Deep Learning Solutions Create a Buzz Across the World!

 The Acquisition Story

Seems that Intel is taking the interest in the startup ecosystem. Recently, the conglomerate acquired Nervana Systems, a two-year-old, San Diego-based deep learning startup that provides robust AI solutions. It is reported by Recode that the deal has been cracked for $350 M.

Naveen Rao, CEO and co-founder of Nervana intends to continue development and expansion in the deep learning framework, platform, and hardware with the help of Nervana’s expertise in deep learning algorithms. Moreover, it will enhance TCO of Intel Xeon and Intel Xeon Phi processors. Even Nervana’s state-of-the-art technology will reach the masses as soon as possible because of Intel. The startup’s team will soon join Intel’s Data Centre Group, once the deal is sealed.

 

Funds

Till date, Nervana Systems has raised around $25 M from investors like DFJ, Data Collective, Fuel Capital, Lux Capital and Allen & Co.

How far will this acquisition go? Please share your thoughts in the comments section below.

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Startup-Buzz Team

Startup-Buzz Team

Startup-buzz Team is a collaborative group of entrepreneurs, researchers, writers and experienced professionals. Tied up together to bring the latest Startup Buzz going around the globe.

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