Intel has acquired a platform to manage, build and automate machine learning - Cnvrg.io

CIOReviewIndia Team | Wednesday, 04 November 2020, 04:32 IST

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Intel has acquired a platform to manage, build and automate machine learning - Cnvrg.io

To build out its machine learning and AI operations, Intel has acquired Cnvrg.io, which is an Israeli company that has built and operates a platform for data scientists to run machine learning models. This platform can be utilized to train and track numerous models and run comparisons on them, build recommendations, among others. 

 

Intel  confirmed the acquisition to us with a short note. “We can confirm that we have acquired Cnvrg,” a spokesperson said. “Cnvrg will be an independent Intel company and will continue to serve its existing and future customers.” Those customers include Lightricks, ST Unitas and Playtika.

Only a week ago, Intel made another acquisition to boost its AI business. It picked up SigOpt, which had developed an optimization platform to run machine learning modeling and simulations. To offset declines in its legacy operations, Intel’s focus on the next generation of computing aims. While led by a drop in its data center business,  Intel reported a 3 percent decline in its revenues. 

With AI silicon in the data center to be greater than $10 billion in that period. Intel said that it is projecting the AI silicon market to be bigger than $25 billion by 2024. 

Including investors such as Hanaco Venture Capital and Jerusalem Venture Partners, and PitchBook, Cnvrg, co-founded by Yochay Ettun (CEO) and Leah Forkosh Kolben, is expected to raise USD 8 million.

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