Intel, now struggling against AI competitors, turned down an opportunity to own 15% of OpenAI | News World

In 2017 and 2018, the tech company had the chance to take a 15% stake in OpenAI for $1 billion, Reuters reported, 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.

OpenAI courted Intel as an investor because it would’ve lowered the startup’s reliance on Nvidia, whose chips are now a mainstay in the AI sector.

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. 

A spokesperson for Intel declined to comment to Fortune.

Since then, Intel has struggled to…