Intel (NASDAQ: INTC) acquired Nervana, a Palo Alto and San Diego, CA-based developer of a deep learning solution that enables organizations of all sizes to build and deploy deep learning-based AI solutions.
The amount of the deal was not disclosed. With the acquisition, Intel intends to enter and expand into the AI technology field.
Led by Naveen Rao, CEO, Nervana Systems has developed a full-stack deep learning solution that enables organizations of all sizes to quickly build and deploy state-of-the-art deep learning-based AI solutions. Following the close of the deal, Nervana intends to continue all existing development efforts including the Nervana Neon deep learning framework, Nervana deep learning platform, and the Nervana Engine deep learning hardware.
The company is backed by leading VC firms including DFJ, DCVC, Allen & Co, AME Cloud Ventures, Playground Global, CME Group, Fuel Capital, Lux Capital, and Omidyar Network.