Intel to Buy Artificial Intelligence Firm Nervana Systems 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.

By Reuters

This story originally appeared on Reuters

Dragan Jovanovic | Shutterstock.com

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)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

Deloitte Is Reimbursing Employees Up to $1,000 — For Buying Lego Sets

Each Deloitte employee can spend up to $1,000 on items to improve their well-being.

Franchise

World Franchise Day Debuts With a Mission to Spotlight Local Businesses

Franchise leaders in more than 40 countries are marking the inaugural World Franchise Day on June 11 to celebrate the small business owners behind the world's biggest brands.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

Meta Is Reportedly Offering Up to Nine-Figure Pay for Researchers on Its New Superintelligence AI Team

Meta CEO Mark Zuckerberg, 41, is overseeing the hiring of staff for the new 50-person team.

Branding

Take Control of What Your Online Presence Says About You

5 steps to make your online presence work for you — not against you.