Hewlett Packard Enterprise (HPE) shares dipped into the red in early trading Thursday after the business-tech giant said it made a small acquisition to boost its presence in the artificial intelligence market.
HPE (HPE) said it has acquired startup Pachyderm, which specializes in software used to reproduce machine learning “pipelines” for large-scale AI applications. HPE (HPE) said it would integrate Pachyderm’s technology in order to deliver “advanced data-driven” pipelines that manage and track machine learning processes.
Financial terms of the deal weren’t disclosed.
Separately on Thursday, Evercore ISI analyst Amit Daryanani cut his rating on HPE (HPE) to in-line, or the equivalent of neutral, from outperform, due to concerns about growth slowing down in an uncertain economic environment.
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Source: Seeking Alpha