Journalists learned that in the past, the CEO of Intel was going to acquire NVIDIA for an impressive amount of $20 billion. The deal, which could have saved the company from its current collapse, was not approved by the board of directors.
According to The New York Times, Intel CEO Paul Otellini was eyeing the purchase of NVIDIA in 2005. According to him and some other executives, developments in data processing could be an asset. He made this proposal to the company’s board of directors, stating the need for a deal worth $20 billion.
The board refused, citing the risks. Instead, Intel is focusing on its advanced hybrid processor project. However, the attempts were unsuccessful and it was later closed.
As Tom’s Hardware notes, the idea of buying NVIDIA could be an excellent long-term investment against the backdrop of the current AI boom. Later, Intel became involved in the artificial intelligence race, but the scale at NVIDIA turned out to be incomparable. The latter is now a much larger company with a capitalization of three billion dollars.
By the way, Intel has missed out on another lucrative deal in the past by refusing to invest in OpenAI.
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Source: VG Times
Gregory Robert is a sports aficionado and a writer for “Social Bites”. He provides in-depth coverage of the latest sporting events and trends, offering a unique and knowledgeable perspective on the world of sports.