Intel announced a new tech acquisition of a San Francisco-based startup developing AI models optimization solution. With the acquisition of San Francisco-based startup SigOpt, Intel will further enhance their AI capabilities to amplify the hardware products and offer AI software tools for the developers.
This deal is expected to be closed this quarter, but still no details of this deal were disclosed by Intel. This acquisition will help Intel in further enhancing their products by deploying improved AI models across the hardware products. Intel might further release the API’s for developers to develop fast and optimized AI models.
This techno acquisition by Intel will help the company in growing their AI capabilities in next generation hardware devices. Also help the developers in getting their model optimized for Intel devices.
The AI silicon market is expected to be worth $25 billion by 2024, and now Intel announced this acquisition which might further help the company in developing intelligent solutions. There is delay in the 10-nanometer processor hardware by Intel, meanwhile the company announced to push back its 7-nanometer chipset manufacturing process.
In February Intel developed its Nervana AI model training technology at a cost of $2 billion. For this company acquired Habana Labs, a chipmaker for AI.
The CEO of SigOpt, Scott Clark earned Ph.D. degree at Cornell University and after completion of this Ph.D degree developed a framework for SigOpt’s product. While working for Yelp, he used this framework for optimizing models and A/B tests.
Scott Clark founded SigOpt with Patrick Hayes CTO in 2014. Patrick Hayes worked as a software engineer at BlackBerry, Foursquare, Bloomberg, and Facebook. Scott Clark and Patrick Hayes launched this company to bring the technology to the other fields.