In 2017 and 2018, Intel negotiated with OpenAI to buy shares in the company. At that time, AI was still not as accessible to the public as it is today. Here’s how Reuters describes the discussions between the parties involved:
“Over several months in 2017 and 2018, executives at the two companies discussed various options, including Intel buying a 15% stake for $1 billion in cash, three of the people said. They also discussed Intel taking an additional 15% stake in OpenAI if it made hardware for the startup at cost price, two people said.”
Then-Intel boss Bob Swan didn’t believe the technology would be ready for the public and be profitable. That led to this deal never happening. This is probably something the company regrets. Unfortunately, Intel has run into financial difficulties in 2024 and is cutting back on both staff and products. It is also lagging behind its competitors in artificial intelligence, but is trying to catch up.
Have you regretted not buying shares at some point?