Intel to Buy Artificial Intelligence Firm Nervana Systems

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
1 min read
This story originally appeared on Reuters

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)

More from Entrepreneur

Our Franchise Advisors will guide you through the entire franchising process, for FREE!
  1. Book a one-on-one session with a Franchise Advisor
  2. Take a survey about your needs & goals
  3. Find your ideal franchise
  4. Learn about that franchise
  5. Meet the franchisor
  6. Receive the best business resources
Entrepreneur Insider members enjoy exclusive access to business resources for just $5/mo:
  • Premium articles, videos, and webinars
  • An ad-free experience
  • A weekly newsletter
  • Bonus: A FREE 1-year Entrepreneur magazine subscription delivered directly to you
Try a risk-free trial of Entrepreneur’s BIZ PLANNING PLUS powered by LivePlan for 60 days:
  • Get step-by-step guidance for writing your plan
  • Gain inspiration from 500+ sample plans
  • Utilize business and legal templates
  • And much more

Latest on Entrepreneur