Intel continues to grab start-ups to construct out its artificial intelligence and AI operations. In the most recent relocation, TechCrunch has actually learned that the chip giant has actually acquired Cnvrg.io, an Israeli business that has actually developed and runs a platform for information researchers to run and build artificial intelligence designs, which can be utilized to train and track numerous designs and run contrasts on them, build suggestions and more.
Intel verified the acquisition to us with a brief note. “We can confirm that we have acquired Cnvrg,” a representative said. “Cnvrg will be an independent Intel company and will continue to serve its existing and future consumers.” Those customers include Lightricks, ST Unitas and Playtika.
Intel is not divulging any financial terms of the offer, nor who from the start-up will sign up with Intel. Cnvrg, co-founded by Yochay Ettun (CEO) and Leah Forkosh Kolben, had actually raised $8 million from investors that include Hanaco Equity capital and Jerusalem Endeavor Partners, and PitchBook approximates that it was valued at around $17 million in its last round.
It was just a week ago that Intel made another acquisition to boost its AI business, likewise in the location of machine learning modeling: it picked up SigOpt, which had actually developed an optimization platform to run machine learning modeling and simulations.
While SigOpt is based out of the Bay Location, Cnvrg remains in Israel, and joins a comprehensive footprint that Intel has actually integrated in the country, particularly in the location of artificial intelligence research and advancement, banked around its Mobileye autonomous automobile service (which it obtained for more than $15 billion in 2017) and its acquisition of AI chipmaker Habana (which it got for $2 billion at the end of 2019).
Cnvrg.io’s platform works throughout on-premise, cloud and hybrid environments and it is available in paid and complimentary tiers (we covered the launch of the totally free service, branded Core, last year). It competes with the similarity Databricks, Sagemaker and Dataiku, as well as smaller operations like H2O.ai that are built on open-source frameworks. Cnvrg’s property is that it offers an user-friendly platform for information researchers so they can focus on measuring and developing algorithms how they work, not developing or preserving the platform they operate on.
While Intel is not saying much about the offer, it seems that a few of the same reasoning behind recently’s SigOpt acquisition uses here too: Intel has actually been refocusing its service around next-generation chips to better contend versus the similarity Nvidia and smaller gamers like GraphCore. It makes sense to also provide/invest in AI tools for customers, particularly services to help with the calculate loads that they will be running on those chips.
It’s notable that in our post about the Core complimentary tier in 2015, Frederic noted that those using the platform in the cloud can do so with Nvidia-optimized containers that operate on a Kubernetes cluster. It’s unclear if that will continue to be the case, or if containers will be optimized instead for Intel architecture, or both. Cnvrg’s other partners include Red Hat and NetApp.
Intel’s focus on the next generation of computing objectives to balance out declines in its legacy operations. In the last quarter, Intel reported a 3% decline in its incomes, led by a drop in its information center business. It stated that it’s projecting the AI silicon market to be larger than $25 billion by 2024, with AI silicon in the data center to be higher than $10 billion in that duration.
In 2019, Intel reported some $3.8 billion in AI-driven revenue, but it hopes that tools like SigOpt’s will assist drive more activity because organization, dovetailing with the push for more AI applications in a wider series of organizations.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.