AI software developed at Intel is being spun off into independent firm Articul8 AI, with investment firm backing.
Intel had been investing heavily into the AI field as it sought to take the fight to AI chip market leader Nvidia, amidst a boom in the artificial intelligence sector that has spurred frenzied competition.
DigitalBridge Ventures served as lead investor of Articul8.
Intel, along with a syndicate of established venture investors, including Fin Capital, Mindset Ventures, Communitas Capital, GiantLeap Capital, GS Futures and Zain Group, have taken an equity stake in the company.
There was no financial disclosure of the value of the deal, or of the funding amounts involved.
It is also not clear if Intel would retain a majority stake in the new venture.
According to Intel, Articul8 offers a turnkey GenAI software platform that delivers speed, security and cost-efficiency to help large enterprise customers operationalise and scale AI. The platform was launched and optimised on Intel hardware architectures, including Intel Xeon Scalable processors and Intel Gaudi accelerators, but will support a range of hybrid infrastructure alternatives.
According to Intel, as an independent company supported by industry investment, Articul8 will be able to accelerate its go-to-market strategy and scale its product offerings for the broader GenAI ecosystem.
The chip giant spun out and publicly listed the car chip firm Mobileye Global, after acquiring it for $15.3 billion in 2017.
Intel has also spun off its programmable chip unit and plans an eventual initial public offering.
This Cyber News was published on www.silicon.co.uk. Publication date: Wed, 03 Jan 2024 16:43:05 +0000