Intel to buy artificial intelligence firm Nervana Systems

Reuters

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. (http://intel.ly/2bhcVZR) 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)