Intel Corp. said on Tuesday it would acquire startup Nervana Systems as the world's largest chipmaker bolsters its artificial intelligence capabilities.
San Diego, California-based Nervana will help develop Intel's artificial intelligence portfolio and enhance the deep learning performance of Intel Xeon and Intel Xeon Phi processors, the company said in a blog post.
Terms of the deal were not disclosed.
Investors in Nervana include Global Playground, CME Ventures, Lux Capital, Allen & Co. and AME Cloud Ventures.
Allen & Co. LLC is the exclusive financial adviser to Nervana in the deal.
(Reporting by Nikhil Subba in Bengaluru; Editing by Sriraj Kalluvila)