Intel to acquire SigOpt to expand AI Business

Intel SigOpt

Intel announced it'll acquire SigOpt, a San Francisco, California based AI startup. The financial terms of the transaction were not disclosed.

SigOpt is a leading platform for the optimization of artificial intelligence software models at scale. SigOpt's AI software technology delivers performance and productivity gains across software and hardware parameters, use cases, and workloads in deep learning, machine learning, and information analytics. 

SigOpt offers a platform that improves model performance by means of a technique known as hyperparameter optimization. SigOpt's client base includes Fortune 500 companies across industries, in addition to leading research institutions, universities, and consortiums. 

Executive Opinion

Intel senior vice president, the chief architect and general manager of Architecture, Graphics, and Software (IAGS), Raja Koduri, said, "In the new intelligence era, AI is driving the compute 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."

SigOpt CEO and co-founder, Scott Clark, said, "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."

Intel's SigOpt Acquisition

Intel is focussing on the latest computing trend to offset declines in its legacy operations. In 2019, Intel reported $3.8 billion in AI revenue. Intel also reported a 3% decline in its earnings in the last quarter. The decline was led by the data center business. With the help of SigOpt, Intel intends to drive and expand in AI verticals. 

Intel plans to use SigOpt software engineering across Intel's AI hardware products to help quicken, Expand and scale Intel's AI software solution offerings to developers. 

SigOpt's software technology along with Intel hardware gives a competitive advantage and differentiated value for information scientists and developers. Also, SigOpt's tool will add value to Intel's artificial intelligence software portfolio. 

SigOpt's software technology will continue to be accessible to information scientists and programmers to assist in solving real-life use cases, notes the announcement.

PC: Unplash

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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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