Intel buying chipmaker Movidius to boost artificial-intelligence efforts

Intel Corp. INTC, 1.36% said it would acquire Movidius Ltd., a maker of semiconductors for drones and other autonomous machines, a move that would bolster Intel's artificial intelligence portfolio amid its desire to become a bigger player in the space. Summit Bridge Capital, ARCH Venture Partners and Sunny Optical Technology Group became investors in Movidius through a 40 million financing round in April 2015. Atlantic Bridge Capital, AIB Seed Capital Fund, Capital-E, DFJ Esprit and Robert Bosch Venture Capital invested earlier. Terms of the transaction weren't disclosed. The deal, subject to certain closing conditions, was announced in blog posts Monday.