Intel had discussions to buy a 15% stake in OpenAI for $1 billion in cash, with an additional stake if Intel made hardware for the startup at cost price.
Then-CEO Bob Swan didn't believe generative AI models would succeed in the market soon, leading Intel to ultimately reject the potential deal.
OpenAI sought Intel's investment to reduce reliance on Nvidia and build its own infrastructure, but the deal fell through due to internal disagreements at Intel.
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