Intel Corp. plans to acquire SigOpt, a San Francisco startup, to add complementary software to its AI hardware products for deep learning, machine learning and data analytics.
The software platform and data science talent will augment Intel’s product offerings and complements Intel’s existing AI software portfolio, the company said.
The team will join Intel’s Machine Learning Performance team and the deal is expected to close during the current quarter pending regulatory approval. Terms of the deal were not disclosed.
Intel said it expects the AI silicon market to grow to more than $25 billion by 2024. For Intel in 2019, AI solutions drove meaningful revenues of more than $3.8 billion. The combination of SigOpt’s software and Intel’s hardware technology will help drive increased AI adoption, the company said.
