{"id":252282,"date":"2024-08-08T00:50:30","date_gmt":"2024-08-08T00:50:30","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/08\/intel-now-struggling-against-ai-competitors-turned-down-an-opportunity-to-own-15-of-openai\/"},"modified":"2025-06-25T17:12:50","modified_gmt":"2025-06-25T17:12:50","slug":"intel-now-struggling-against-ai-competitors-turned-down-an-opportunity-to-own-15-of-openai","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/08\/intel-now-struggling-against-ai-competitors-turned-down-an-opportunity-to-own-15-of-openai\/","title":{"rendered":"Intel, now struggling against AI competitors, turned down an opportunity to own 15% of OpenAI"},"content":{"rendered":"

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Intel\u2019s lagging fortunes could have been different if it had made a single investment.\u00a0<\/p>\n

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In 2017 and 2018, the tech company had the chance to take a 15% stake in OpenAI for $1 billion, Reuters reported<\/a>, citing four people with direct knowledge of the discussions. On top of that, Intel could have bought another 15% stake if it offered OpenAI its hardware at cost, according to two of the people.<\/p>\n

OpenAI courted Intel as an investor because it would have lowered the startup\u2019s reliance on Nvidia<\/a>, whose chips are now a mainstay in the AI sector.<\/p>\n

But Intel passed on the deal, partly based on the belief that generative AI models would not gain traction in the near future, leaving the company unable to recoup its investment, according to three of the sources interviewed by Reuters.\u00a0<\/p>\n

A spokesperson for Intel declined to comment to Fortune<\/em>.<\/p>\n

Since then, Intel has struggled to gain a foothold in the red-hot AI sector, and its stock has plummeted, losing 58% of its value just this year. Meanwhile, OpenAI leads the market after releasing its popular AI chatbot, ChatGPT<\/a>, in 2022. After experiencing its worst stock decline in 50 years<\/a> last week, Intel\u2019s $84 billion market cap is just about equal to OpenAI\u2019s most recent valuation<\/a> of $80 billion.\u00a0<\/p>\n

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