Intel Corporation has revealed that it would obtain the startup Nervana Systems and make it become the largest chip maker in the world and boost up the artificial intelligence capabilities further.
An artificial intelligence portfolio of Intel will be developed successfully by California based Nervana Systems. This startup has the best stuff to improve the overall learning performance of both Intel Xeon and Intel Phi processors. This valuable information is revealed officially in the blog post by the company. On the other hand, the overall terms of the deal not yet revealed.
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The most renowned investors of Nervana Systems are Lux Capital, CME Ventures, Global Playground, AME Cloud Ventures and Allen & Co.
Allen & Co LLC is the most exclusive financial adviser in the Nervana System in the deal at this time. The price tag of the Nervana Systems acquisition deal is $350 million.
Naveen Rao, CEO and Co-Founder of Nervana Systems specified in the official blog post that his company has geared up for developing the best in class elements required for the most efficient hardware, platform and framework. If this deal has closed, then Data Center Group of Intel joined in the San Diego based team of 48 almost immediately.
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As an EVP and GM of the Intel’s Data Center Group, Diane Bryant said that IP and proficiency in the overall acceleration of deep learning algorithms expand the overall Artificial Intelligence capabilities of Intel in the upcoming days. She also announced that a qualified team in Nervana Systems apply the most exclusive software expertise further for optimizing the industry standard frameworks integrated with the Intel Math Kernel Library at this time.
Bryant has revealed different things such as the overall expertise of this startup does not fail to advance artificial intelligence portfolio of Intel. In addition to this favourable element, Nervana Systems improves the deep learning performance along with TCO of both Intel Xeon Phi and Intel Xeon processors.
Nervana Systems has raised $25 million in two years from investors include, but not limited to Fuel Capital, DFJ, Lux Capital, Data Collective and Allen & Co. This company shines by hardware centric approach to each artificial intelligence solution.