Intel is getting serious about artificial intelligence, specifically as a driver of chip sales. On Tuesday, the company announced plans to acquire Nervana Systems, a deep learning company based in San Diego, Calif.
Financial terms for the deal were not disclosed, but Recode reports the deal is valued at around $408 million, citing “a source with knowledge of the deal.”
“With this acquisition, Intel is formally committing to pushing the forefront of AI technologies,” said Naveen Rao, CEO and cofounder of Nervana Systems, in a blog post.
Artificial intelligence is not science fiction, said Diane Bryant, EVP and general manager of the data center group at Intel, in a blog post. Rather, she said, it is all around us, enabling speech recognition, image recognition, fraud detection, and self-driving cars.
“Encompassing compute methods like advanced data analytics, computer vision, natural language processing and machine learning, artificial intelligence is transforming the way businesses operate and how people engage with the world,” said Bryant.