Apple snaps up AI start up Xnor.ai in a deal worth up about $200M
Category: #business  By Saipriya Iyer  Date: 2020-01-16
  • share
  • Twitter
  • Facebook
  • LinkedIn
Apple snaps up AI start up Xnor.ai in a deal worth up about $200M

Apple has acquired a Seattle-based AI start up Xnor.ai that specializes in edge-based and low-power artificial intelligence tools. The acquisition is in line with Apple’s much-talked about procurement of Turi, a Seattle-based AI start up in 2016. Interestingly, it is believed that Apple has paid similar amount to Xnor.ai—the deal being worth up about $200 million.

Apple has used acquisition to expand its penetration of AI ecosystem, in the vein of technologies companies such as Microsoft, Facebook and Alphabet. These behemoths have taken giant strides to enhance their own products with AI and provide tools to outside software developers.

As per sources familiar with the knowledge of the matter, the company has stressed that they have continued the trend of acquiring small companies and that they do not buy the idea of discussing plans or purpose. People aware of the happening strongly assume the latest AI-enabled image recognition tools of Xnor could well set the standard for future webcams and iPhones.

Read also: Apple acquires 5G smartphone modem chip unit of Intel for USD 1B

According to sources, the acquisition of Xnor.ai is yet another feather in the cap for Allen Institute for Artificial Intelligence, pioneered by Paul Allen, Microsoft co-founder to propel AI research lab. Xenor focuses on their innate ability to run on device, unlike Amazon that resorts to cloud providers to perform heavy-duty computing. The startup counts on image recognition and machine learning tools—AI on the edge—whose modus operandi can be done on low-power devices.

Of late, Xnor.ai was ranked no. 44 by Forbes on an elite list of America’s most promising AI companies. Acquisitions related to AI have proliferated in recent years, with the acquisition of Xenor.ai substantiating Seattle’s role as a hub for innovations in machine learning and AI.

Source credit:

https://www.geekwire.com/2020/exclusive-apple-acquires-xnor-ai-edge-ai-spin-paul-allens-ai2-price-200m-range

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Saipriya Iyer

Saipriya Iyer    

Saipriya Iyer currently works as a content developer for GroundAlerts. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had previous experience of 3 years under her belt, she has dabbled with website ...

Read More >>

More News By Saipriya Iyer

Atipa Technologies introduces Procyon G-Series for enhanced research
Atipa Technologies introduces Procyon G-Series for enhanced research
By Saipriya Iyer

Atipa Technologies, a prominent provider of storage and computing solutions, has reportedly introduced a deep learning and high-performance platform named Atipa Procyon G-Series. The platform is powered by latest NVIDIA A100 Tensor Core GP...

Congenica Ltd. secures USD 50 million in a Series C funding round
Congenica Ltd. secures USD 50 million in a Series C funding round
By Saipriya Iyer

U.K.-based digital health company Congenica Ltd. has reportedly announced that it has secured USD 50 million (£39 million) in a series C funding round. The new funds will provide strategic as well as geographic opportunities which will help the...

Vestas secures another 50 MW wind farm order from Vietnam-based GEC
Vestas secures another 50 MW wind farm order from Vietnam-based GEC
By Saipriya Iyer

Vestas, a leading Danish wind turbine manufacturer, has reportedly secured another 50 MW wind energy farm contract in Vietnam with la Bang Wind Power Joint Stock Company, a local energy firm and a subsidiary of GEC (Gia Lai Electricity Joint Stock Co...