13.8.16

Intel buys AI startup Nervana Systems run by Indian-origin entrepreneur

Intel buys AI startup Nervana Systems run by Indian-origin entrepreneur


Tech giant Intel has acquired California-based deep learning startup Nervana Systems, run by an Indian-origin entrepreneur, allowing the the chip maker to foray into the world of Artificial Intelligence (AI). Nervana will help develop Intel's artificial intelligence portfolio and enhance the deep learning performance of Intel Xeon and Intel Xeon Phi processors. Though chip giant didn't disclose the value of the acquisition, according to technology website Recode the deal is valued at around USD 408 million.

Nervana Systems is led by former Qualcomm researcher Naveen Rao, founded in 2014 and headquartered in San Diego, California, Nervana has a fully-optimised software and hardware stack for deep learning. Nervana Systems has reportedly raised $25 million in venture funding. The company also reportedly has a contract to work with In-Q-tel, the US intelligence community's venture arm. While Intel is one of the world's largest and highest valued semiconductor chip makers, based on revenue.

So let's discuss some questions related to this post:
1. Name the artificial intelligence startup which has been bought by the tech giant Intel?
2. Where is the headquarter of Nervana Systems?

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