Bob Swan, CEO, Intel. Photo credit: Stuart Isett for Fortune Magazine, licensed under Creative Commons

 Computing giant Intel has confirmed that it’s acquired Cnvrg.io, an Israeli startup that’s built a platform for data scientists to build, run, and manage machine learning models. With Cnvrg.io, data scientists can build and run machine learning models as well as train and track their models and run comparisons on them. 

Post-acquisition, Cnvrg will be an independent subsidiary of Intel. As a privately-held startup, the company is known to have raised $8 million in outside funding and valued at $17 million from its last funding round (PitchBook data). The financial terms of Intel’s acquisition weren’t disclosed. It comes just on the heels of Intel acquiring another related startup, SigOpt, which is a platform for testing and optimizing artificial intelligence models.

Intel is ramping up its work in the artificial intelligence and machine learning space to better compete with the likes of Nvidia and upcoming players like GraphCore. The company has begun investing in AI tools for customers, particularly tools to help manage the compute loads that run on its chips.

Intel already has a big AI business, one that reported $3.8 billion in revenue in all of 2019 out of a total of $72 billion. Apparently, Intel sees acquisitions like SigOpt and now Cnvrg as a way of boosting its AI business.

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