About seven years ago, Intel negotiated with OpenAI to buy a 30% stake in an AI startup. This is reported by Reuters with reference to sources.
The agency found out that for several months in 2017 and 2018, company executives discussed various options, including buying 15% of shares for $1 billion. The idea of acquiring an additional 15% stake was also considered, provided that Intel would produce equipment for Sam Altman's startup at cost.
Eventually, the chipmaker backed out of the deal because then-CEO Bob Swan felt that generative artificial intelligence models would not enter the market in the near future. In addition, Intel did not want to sell products at cost, the media noted.
Reuters stressed that OpenAI was interested in investing because it could reduce the company's dependence on Nvidia chips and would allow it to build its own infrastructure.
In early August 2024, Intel announced the layoff of 15% of its staff, or about 15,000 employees, amid a lag in the AI race.
In April, the company introduced the next-generation AI chip Gaudi 3.
Recall that in the summer of 2023, Intel CEO Pat Gelsinger announced plans to integrate artificial intelligence into every product of the company.