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Intel Unveils New AI Chips to Rival Nvidia’s Dominance in AI Industry, INTC Stock Up 1%

Summary:
Dubbed Gaudi3, Intel intends to attract generative AI companies like OpenAI away from Nvidia and bolster its stock market performance. Intel Corp (NASDAQ: INTC) stock closed Thursday trading at .18, up 1.37 percent from the day’s opening price. Although Intel has been on a winning streak since the calendar flipped in January, the company is not satisfied with the performance as its rival Nvidia Corp (NASDAQ: NVDA) has more than tripled its valuation year-to-date. As a result, Intel has unveiled new products to compete with Nvidia and other peers in the generative Artificial Intelligence (AI). During the Intel AI Everywhere launch event in New York on Thursday, the company’s Chief Executive Executive Officer (CEO) Patrick Gelsinger announced several AI-focused chips that will hit the

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Dubbed Gaudi3, Intel intends to attract generative AI companies like OpenAI away from Nvidia and bolster its stock market performance.

Intel Corp (NASDAQ: INTC) stock closed Thursday trading at $45.18, up 1.37 percent from the day’s opening price. Although Intel has been on a winning streak since the calendar flipped in January, the company is not satisfied with the performance as its rival Nvidia Corp (NASDAQ: NVDA) has more than tripled its valuation year-to-date. As a result, Intel has unveiled new products to compete with Nvidia and other peers in the generative Artificial Intelligence (AI).

During the Intel AI Everywhere launch event in New York on Thursday, the company’s Chief Executive Executive Officer (CEO) Patrick Gelsinger announced several AI-focused chips that will hit the market next year. Among the chips unveiled was the Gaudi3, which will compete directly with Nvidia’s H100.

Worth noting that Intel has been developing and improving the Gaudi chips since 2019 after it successfully acquired Habana Labs. As a result, the company is confident more AI software projects will tap into the Gaudi3 to enhance faster and more secure products.

“We’ve been seeing the excitement with generative AI, the star of the show for 2023,” Gelsinger noted during the event.

Intel Unveils New PC and Laptop Chips Focused on AI

In addition to the Gaudi3, Intel also unveiled several other products to be used in PC and laptop development in a bid to support seamless AI software programs. Notably, Intel announced the Core Ultra chipset that is designed for laptops and PCs. The tech company also announced the new fifth-generation Xeon server chipset. Worth noting that both the Core Ultra and fifth-generation Xenon chipsets encompass a specialized AI unit dubbed NPU, which is meant to help generative AI programs run faster and smoothly.

“We think the AI PC will be the star of the show for the upcoming year,” Gelsinger added.

Worth noting that Intel’s Core Ultra chipset introduces robust gaming capabilities to enable mass adoption of web3 metaverse gaming protocols among other immersive games. Although Intel did not reveal the pricing of the new chipset products, the company highlighted that the fifth-generation Xeon processor will play a crucial role in large organizations that use cloud computing. Additionally, Intel noted that the fifth-generation Xeon processor can be deployed in AI model training as it is less power-hungry.

Market Outlook

With the new Intel’s AI-focused processors expected to hit the market by 2024, experts project exponential growth in subsequent quarters. Meanwhile, the $187 billion valued tech company has received an average rating of Hold from 42 ratings. During the third quarter earnings report, Intel reported a revenue of $14.2 billion, down 8 percent YoY. During the fourth quarter, the company expects to report a revenue range of between $14.6 billion and $15.6 billion. Moreover, the ongoing organizational change to focus on AI developments will significantly improve the final output and revenue generation.

Artificial Intelligence, Business News, Market News, News, Stocks

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