Intel Unveils New AI Chips to Rival Nvidia’s Dominance in AI Industry, INTC Stock Up 1%
Dubbed Gaudi3, Intel intends to attract generative AI companies like OpenAI away from Nvidia and bolster its stock market performance.
Intel announces new industry partnerships and products that lay the groundwork for faster, smarter and more efficient 5G wireless networks.
Dubbed Gaudi3, Intel intends to attract generative AI companies like OpenAI away from Nvidia and bolster its stock market performance.
The new computers, including MacBook Pro and iMac models, are set to hit the market next week.
Following the Q3 2023 report, Intel stock rose by more than 7% in after-hours trade, after closing the session at $32.52 per share. As of the press moment, Intel stock is trading at $35.15. Its market cap has hit $137.49 billion. Year-to-date, Intel shares are 23.04% up.
According to the startup, it will use the newly raised funds to improve its DPU hardware and software solutions.
The upcoming chips will enhance Microsoft’s efforts to help chip companies build Arm-based processors for PCs running on Windows as well as strengthen Nvidia’s position in competing with Apple.
Astera Labs closed its series D funding round in November last year with $150 million at a valuation of about $3.15 billion.
Intel is making a strong push in the semiconductor industry with FPGAs, which can be highly flexible, efficient, and used in various industries, are in high demand.
Arm has concluded its debut on the Nasdaq after launching an IPO where shares closed nearly 25% higher on the day.
The tech industry was abuzz in 2020 when Nvidia announced its ambitious plan to acquire Arm Holdings from SoftBank for a staggering $40 billion before its planned IPO.
Hugging Face provides various tools with AI code for data science hosting and development. The startup plans to use fresh funds for further expansion.