Intel Says It Won't Even Make $500M From Gaudi AI Chips In 2024 Despite Nvidia Minting Billions: CEO Gelsinger Says Uptake 'Slower Than We Anticipated'

Quick Summary:

Intel Corp.(NASDAQ:INTC) has a Gaudi problem on its hands – the chipmaker revealed that its AI accelerator won't even make $500 million in 2024, falling short of CEO Pat Gelsinger's target of $1 billion to $2 billion.

What Happened: Gelsinger revealed during Intel's third-quarter earnings call that the Gaudi AI accelerator program will fall short of revenue targets due to a transition from second to third generation.

"The overall uptake of Gaudi has been slower than we anticipated as adoption rates were impacted by the product transition from Gaudi 2 to Gaudi 3 and software ease of use," Gelsinger said.

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Author / Journalist: Rounak Jain

Category: Technology

Markets: United States

Topics: NVDA AI stocks QCOM Consumer Tech US4581401001 Pat Gelsinger INTC Artificial intelligence Equities AMD Markets Tech US7475251036 News US0079031078 Benzinga US67066G1040

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 13:40:03 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 580 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23364542

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