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Intel makes second AI acquisition in a week

Business news |
By Ally Winning

Last Thursday the company announced that it planned to acquire SigOpt, a provider of a leading platform for the optimization of AI software models at scale. Now, the company has also reportedly agreed to acquire Cnvrg.io, a data science startup that helps teams create and run machine learning models.

SigOpt provides AI software technologies that deliver productivity and performance gains across hardware and software parameters, use cases, and workloads in deep learning, machine learning, and data analytics. Intel says it plans to use SigOpt’s software technologies across its AI hardware products to help accelerate, amplify, and scale its AI software solution offerings to developers.

“In the new intelligence era, AI is driving the compute needs of the future,” says Raja Koduri, Intel senior vice president, chief architect and general manager of the Architecture, Graphics and Software (IAGS) Group. “It is even more important for software to automatically extract the best compute performance while scaling AI models. SigOpt’s AI software platform and data science talent will augment Intel software, architecture, product offerings and teams, and provide us with valuable customer insights.”

Scott Clark, SigOpt CEO and co-founder adds, “We are excited to join Intel and supercharge our mission to accelerate and amplify the impact of modelers everywhere. By combining our AI optimization software with Intel’s decades-long leadership in AI computing and machine learning performance, we will be able to unlock entirely new AI capabilities for modelers.”

SigOpt’s customer base includes Fortune 500 companies across industries, as well as leading research institutions, universities, and consortiums. SigOpt’s software technologies will continue to be available to data scientists and developers.

The SigOpt deal is expected to close this quarter. Transaction terms were not disclosed.

Intel’s latest reported acquisition, Cnvrg.io, provides an all-in-one machine learning platform that allows data scientists to build and execute AI and ML algorithms, from the research stages to the production phase. The Israel-based company bills itself as a “code-first AI OS for machine learning,” transforming the way enterprises manage, scale, and accelerate AI.

The company’s customers include Fortune 500 companies to startups and its partners include Red Hat, Nvidia, and NetApp. Under the deal, Cnvrg will reportedly be an independent Intel company and will continue to serve its existing and future customers.

Intel SigOpt
Cnvrg.io

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