Apple snaps up AI start up Xnor.ai in a deal worth up about $200M
Category: #business  By Anchal Solanki  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

Anchal Solanki

Anchal Solanki    

A civil engineer by qualification, Anchal Solanki forayed into the domain of content writing in the midst of her graduation, embarking on the career path of a successful freelancer. Equipped with a short-term experience in market research, Anchal currently writes news...

Read More >>

More News By Anchal Solanki

Shannon provides safe & reusable thermal blanket insulation for NDS
Shannon provides safe & reusable thermal blanket insulation for NDS
By Anchal Solanki

  Shannon blanket insulation can offer up to 85% heat loss reduction over a surface They can prove to be an energy saving solution while improving the safety Shannon Global Energy Solutions, a leading designer and builder of reusable therm...

SSE takeover of energy service arm from Ovo for £500M on the cards
SSE takeover of energy service arm from Ovo for £500M on the cards
By Anchal Solanki

SSE, the UK energy giant, has stated that it will soon complete the sale of its energy service arm to Ovo for £500 million, incorporating £400 million in cash and £100 million in loan notes. SSE sees this as an opportunity at hand t...

Magellan Aerospace to supply landing gear assemblies to Collins
Magellan Aerospace to supply landing gear assemblies to Collins
By Anchal Solanki

The company offers intricate assemblies and systems solutions for aircraft manufacturers Magellan will use its global resources in India, Poland, Kitchener and New York Magellan Aerospace Corporation, a Canadian-based aerospace system and compon...