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Intel acquires deep learning startup Nervana for $400M

artificial-intelligence-cc

Intel has acquired Nervana Systems, a cloud based deep learning company for reportedly $400 million. Nervana will continue to operate independently and continue its development on the Nervana Neon deep learning framework, Nervana deep learning platform, and the Nervana Engine deep learning hardware. Intel will use the company’s IP on its own platforms like the Intel Math Kernel Library, Intel Xeon and Intel Xeon Phi processors.

Nervana had previously raised funding from Steve Jurvetson of Draper Fisher Jurvetson, Matt Ocko of Data Collective, Playground Global, CME Ventures, Lux Capital, Allen & Co, AME Cloud Ventures, Fuel Capital, Omidyar Technology Ventures and SV Angel. It was founded by Naveen Rao, Amir Khosrowshahi and Arjun Bansal in 2014.

Recent big acquisitions:
– Last month, Japan-based SoftBank acquired ARM Holdings for $32 billion in an all cash deal. In June, SoftBank announced that it would sell at least $7.9 billion of its stake in the Chinese e-commerce company Alibaba to reduce its debt.
– In the same month, Google bought a US-based company called Anvato, a cloud based platform for encoding, editing, publishing and distribution across different screens. In July, Google acquired France based machine learning startup Moodstocks.
– In June, Gaia Smart Cities, a machine-to-machine communications company, acquired netCORE’s IoT business for an undisclosed amount.
– In the same month, Persistent Systems acquired Australia-based PRM Cloud Solutions for an undisclosed amount.
– In May, Snapdeal acquired TargetingMantra, an analytics firm that provided catalogue personalization, marketing and big data analytics, for an undisclosed amount.
– In February, Cisco acquired the IoT services platform provider Jasper for $1.4 billion.
– In January, Pune-based Persistent Systems acquired Citrix CloudPlatform and CloudPortal business manager products.

Intel India developments:

In April, Intel opened 10 Unnati Kendras in Telangana, an initiative for the digitization of rural India. In August 2015, Intel India launched an Intel India Maker Lab, a platform for entrepreneurs and innovators to ‘accelerate product innovation’ in Internet of Things (IoT), mobile devices and compute domains.

Image credit: J Brew under CC BY SA 2.0

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ