Intel to Acquire AI Startup Nervana Systems

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. 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. "Success in this space requires continued innovation to deliver an optimized, scalable platform providing the highest performance at lowest total cost of ownership… I'm excited to announce that Intel signed a definitive agreement to acquire Nervana Systems, a recognized leader in deep learning. Founded in 2014, Nervana has a fully-optimized software and hardware stack for deep learning. Their IP and expertise in accelerating deep learning algorithms will expand Intel's capabilities in the field of AI. We will apply Nervana's software expertise to further optimize the Intel Math Kernel Library and its integration into industry standard frameworks. Nervana's Engine and silicon expertise will advance Intel's AI portfolio and enhance the deep learning performance and TCO of our Intel Xeon and Intel Xeon Phi processors. We will share more about artificial intelligence and the amazing experiences it enables at our Intel Developer Forum next week."