The technology giant Intel has encountered a significant setback recently, falling behind rivals Nvidia and Advanced Micro Devices (AMD). The tech firm’s initial decision to ignore tapping into generative AI has presented it with a stockpile of setbacks in today’s AI-driven era. Reportedly, Intel constantly declined opportunities to hold a significant stake in OpenAI, a pioneer in generative artificial intelligence industry. This chronicle appears to have presented the firm with a major setback, as seen with its stock price constantly declining in the interim.
Intel Misses OpenAI Deal
According to an X post by ‘Walter Bloomberg’ today, Intel had been in talks with OpenAI for up to a significant 30% stake in the AI firm. However, according sources referred to by Reuters, no such deal happened, with the tech firm missing the opportunity.
Intriguingly, the investment talks started around seven years ago when OpenAI was budding. However, the then-CEO Bob Swan did not believe in generative AI’s potential, negating the deal.
Over the years, the tech-giant had several opportunities to invest in the Sam Altman-backed AI firm, including opportunities like a 15% stake for $1 billion in cash and an additional 15% stake if the tech firm offered hardware to the AI startup at a cost price. Nonetheless, no such deal happened.
Meanwhile, the company’s rivals, such as Nvidia and AMD, former gaming graphics processing units, sacked the opportunity to venture into AI development. Subsequently, Nvidia and AMD stocks rose considerably before being pulled down by the recent market crash, aka ‘Black Monday.’
Also Read: Nikkei Jumps 2.5% As BOJ Hints to Pause Rate Hike, Crypto Market Rally Ahead?
Nvidia (NVDA) & AMD Take Lead?
Notably, Nvidia (NVDA) has recently emerged as a leader in AI chip production, capitalizing on the market. The AI chip manufacturer even went on par with Apple (AAPL) in market valuation, with the current value at $2.65 trillion.
NVDA stock price saw over 50% gains in the past six months, in tandem with the constant growth of AI. However, AMD’s stock price saw a roughly 20% decline over the same period. Nonetheless, INTC stock price witnessed an approximate 50% dip in value over the past six months. This plummeting value might be attributed to the firm’s late entry into the artificial intelligence sector.
However, recent efforts show a paradigm shift in focus towards AI. Intel recently revealed Panther Lake, an AI PC processor. Meanwhile, amid the ongoing Olympics buzz, the tech firm also revealed an AI platform for spectators to test their own strength and agility, further grasping a hold in the sector.
Also Read: Cathie Wood Ark Invest Just Bought These Crypto Stocks As Market Rebounds
The post Intel Falls Behind Nvidia & AMD As OpenAI Deal Slips Away appeared first on CoinGape.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed