Chipzilla has decided that AI smells a bit like teen spirit and is going to write a cheque for Nervana Systems.
Intel is tsarting to see AI as the next big thing and it is buying in expertise. Nervana which has not been the same since its lead singer killed himself appears to have got itself involved with cutting edge AI reseach [are you sure that is the name Nervana? Ed].
Intel wrote in its bog that the buy out will help develop Intel’s artificial intelligence portfolio and enhance the deep learning performance of Intel Xeon and Intel Xeon Phi processors.
The company is led by former Qualcomm researcher Naveen Rao and has raised $25 million in venture funding and also has a contract to work with In-Q-tel, the U.S. intelligence community’s venture arm.
It has not said how much it paid for the company but investors in Nervana include Global Playground, CME Ventures, Lux Capital, Allen & Co and AME Cloud Ventures so it looks like a large amount of money must have changed hands. It has been rumoured that Intel had to pay $350 million,