AI startup run by an Indian origin entrepreneur is acquired by Intel

Intel today acquired California-based profound learning start-up Nervana Systems keep running by an Indian-beginning business visionary, permitting the chip producer to attack into the universe of Artificial Intelligence.

San Francisco, Aug 10th, 2016. RedNewswire/-

Intel data center chief Diane Bryant, with Nervana co-founders Naveen Rao, Arjun Bansal, Amir Khosrowshaki and Intel vice president Jason Waxman (left to right)

Co-founded by Naveen Rao in 2014 and headquartered in San Diego, California, Nervana has a completely streamlined programming and equipment stack for profound learning.

The US-based chip giant isn't really saying the amount it is paying, yet a source with learning of the arrangement said it is esteemed at around USD 408 million. 

"Today,  Iam excited to announce that Intel signed a definitive agreement to acquire Nervana Systems, a recognised leader in deep learning," Diane Bryant, Executive Vice President of Data Center Group at Intel said. "We will share more about Artificial Intelligence (AI) and the amazing experiences it enables at our Intel Developer Forum next week," Bryant said.

"Their IP and mastery in quickening profound learning calculations will grow Intel's abilities in the field of Artificial Intelligence. We will apply Nervana's product ability to encourage streamline the Intel Math Kernel Library and its mix into industry standard systems," she said.

"Nervana's Engine and silicon aptitude will propel Intel's AI portfolio and upgrade the profound learning execution and TCO of our Intel Xeon and Intel Xeon Phi processors," she included.

"We trust that uniting the Intel engineers who make the Intel Xeon and Intel Xeon Phi processors with the skilled Nervana Systems' group, we will have the capacity to propel the business quicker than would have generally been conceivable. We will keep on investing in driving edge advances that supplement and upgrade Intel's AI portfolio," Bryant said.

"We've generally been a mission driven organization. Despite the fact that we won't be a startup any more, our main goal hasn't changed. we are here to make a scratch in the realm of calculation, Rao said.

"With this arrangement, we can now smash the old worldview and move into another administration of figuring. We'll think in 10 years and see this time as the intonation purpose of when process models got to be neural," he said.

As indicated by Rao, the semiconductor incorporated circuit is one of humankind's most noteworthy accomplishments and Intel has the best semiconductor innovation on the planet.

Nervana's AI mastery consolidated with Intel's abilities and tremendous business sector scope will permit us to understand our vision and make something genuinely uncommon, Rao said.

He said that the arrangement didn't mirror any obstacles in getting more cash-flow to stay autonomous.

"Raising cash was not the issue. That would have been generally simple. Be that as it may, by offering to Intel, we have entry to innovation we'd never dream about," Rao said.

Intel is one of the world's biggest and most astounding esteemed semiconductor chip producers, in view of income.

Source:PTI

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