Intel is continuing to snap up startups to build out its machine learning and AI runnings. In the latest move, TechCrunch has learned that the chip whale has acquired Cnvrg.io, an Israeli company that has built and operates a platform for data scientists to build and run machine learning sits, which can be used to train and racetrack variou simulates and race analogies on them, construct the proposals and more.
Intel established 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.
Intel is not disclosing any financial terms of the batch , nor who from the startup will join Intel. Cnvrg, co-founded by Yochay Ettun( CEO) and Leah Forkosh Kolben, had raised$ 8 million from investors that include Hanaco Venture Capital and Jerusalem Venture Partners, and PitchBook estimates that it was valued at around $17 million in its last round.
It was only a week ago that Intel made another acquisition to boost its AI business, also in the area of machine learning modeling: it picked up SigOpt, which had developed an optimization programme to run machine learning modeling and simulations.
While SigOpt is based out of the Bay Area, Cnvrg is in Israel, and meets an extensive footprint that Intel has built in the country, specifically in the area of artificial intelligence research and development, enlisted around its Mobileye autonomous vehicle business( which it acquired for more than $15 billion in 2017) and its possession of AI chipmaker Habana( which it acquired for$ 2 billion at the end of 2019 ).
Cnvrg.io’s platform duties across on-premise, cloud and hybrid environments and it comes in paid and free ranks( we covered the launching of the free assistance, labelled Core, last year ). It plays with the likes of Databricks, Sagemaker and Dataiku, as well as smaller procedures like H2O. ai that are built on open-source frameworks. Cnvrg’s premise is that it furnishes a user-friendly platform for data scientists so they can concentrate on devising algorithms and valuing how they work , not building or maintaining the platform they run on.
While Intel is not saying much about the cope, it seems that some of the same logic behind last week’s SigOpt acquisition applies here as well: Intel has been refocusing its business around next-generation microchips to better compete against the likes of Nvidia and smaller players like GraphCore. So it establishes sense to likewise supply/ invest in AI tools for customers, specific services to help with the calculate loadings that they will be running on those chips.
It’s notable that in our essay about the Core free tier last year, Frederic noted that those expending the pulpit in the cloud can do so with Nvidia-optimized containers that run on a Kubernetes cluster. It’s not clear 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 estimating aims to offset rejects in its legacy actions. In the last quarter, Intel reported a 3% decline in its revenues, to be provided by a drop in its data center business. It said that it’s projecting the AI silicon market to be bigger than $25 billion by 2024, with AI silicon in the data center to be greater than $ 10 billion in that period.
In 2019, Intel reported some $3.8 billion in AI-driven revenue, but it hopes that implements like SigOpt’s will help drive more activity in that business, dovetailing with the push for more AI lotions in a wider range of businesses.
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