Intel will acquire AI tech company SigOpt to improve its tech

Intel to Acquire SigOpt
Credit: Intel

SigOpt, which is an AI technology-based company will soon be acquired by Intel. Intel will be using the services for the optimization of such AI models.

The performance is provided by SigOpt’s AI technology for both the hardware and software domains.

It can also be used for cases and workloads in sectors like machine and deep learning, data analytics, and so on. This will be used by Intel for improving the Hardware of Intel to boost the software performances with the AI technology.

In the new intelligence era, AI is driving the computing needs of the future. 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. We welcome the SigOpt team and its customers to the Intel family said Raj, the senior vice president, chief architect, and general manager of Architecture, Graphics, and Software (IAGS) of Intel.

Developers and data scientists will benefit tremendously from the current AI software technologies. Intel has also signed Scott Clark and Patrick Hayes from the company, who are the co-founders as they will join the Intel team of Machine Learning Performance.

We are excited to join Intel and supercharge our mission to accelerate and amplify the impact of modelers everywhere,” said Scott Clark, SigOpt CEO and co-founder. “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 said the co-founders said.

The terms of the transaction between the company and Intel were however not disclosed.

The new venture will help solve many challenges and being the customers of SigOpt’s like Fortune 500 companies, Universities, research institutions, universities, and consortiums to n trust better because of the collaboration with Intel.

By 2024, the AI silicon market will grow by $25 billion and as they have already generated more than $3.8 billion in 2019 from AI-domains, this collaboration will be beneficial as Intel estimates more than $10 billion in the AI silicon data center domains.