Wednesday, August 10, 2016

Intel Buys Nervana Systems For $350M

Intel says it has acquired a developer of artificial intelligence software and hardware, Nervana Systems, in a deal which is reported to be worth around $350M. Nervana, based in San Diego, California, develops systems used for "deep learning" and machine intelligence, which used both software and hardware. The company was backed by Data Collective,Playground Global, CME Ventures, Lux Capital, Allen & Co, AME Cloud Ventures, Fuel Capital, Omidyar Technology Ventures, SV Angel, and others.