Intel continues to bolster startups to develop machine learning and AI capabilities. In its latest move, TechCrunch has learned that the giant has acquired Cnvrg.io, an Israeli company that has built and operates a platform for data scientists to build and run machine learning models, which can be used to train and monitor multiple models, perform comparisons on them, and generate recommendations.
Intel confirmed in a brief press release. “We can confirm that we have acquired Cnvrg,” a spokesperson said. “Cnvrg will be an independent company from Intel and will continue to serve its existing and future customers .” Those customers include Lightricks, ST Unitas and Playtika.
Intel has not disclosed the financial terms of the deal, nor which of the startups will join Intel. Cnvrg.io, co-founded by Yochay Ettun (CEO) and Leah Forkosh Kolben, had raised $8 million from investors including Hanaco Venture Capital and Jerusalem Venture Partners, and PitchBook estimates it was valued at about $.
Just a week ago, Intel made another acquisition to strengthen its AI technology business, also in the area of machine learning modeling: it acquired SigOpt, which has developed an optimization to run machine learning models and simulations.
Cnvrg.io’s platform works across on-premises, cloud , and hybrid environments, and comes in both paid and free packages (we covered the launch of the free service, called Core, last year). Its competition includes Databricks , Sagemaker, and Dataiku, as well as smaller companies like H2O.ai that are built on open-source frameworks . Cnvrg’s goal is to provide a user-friendly platform for data scientists so they can focus on inventing algorithms and measuring how they perform , not on building or maintaining the platform they’re working on.
While Intel isn't saying much about the deal, it seems to follow the same logic as last week's SigOpt acquisition: Intel is refocusing business around chips to better compete with Nvidia and smaller players like GraphCore. So it makes sense for it to provide/invest in AI tools for customers, especially services that will help calculate the compute loads that will run on those chips.
In 2019, Intel reported that it had about $3.8 billion in revenue driven by artificial intelligence, but it hopes its acquisitions will help boost activity in that business.
