PHOENIX - Intel Corporation (NASDAQ:INTC) has introduced its new Intel Gaudi 3 AI accelerator at the Vision 2024 conference, positioning itself as a key player in the enterprise generative AI (GenAI) market. The company announced the Gaudi 3's availability to OEMs, including Dell Technologies (NYSE:DELL), HPE, Lenovo, and Supermicro, for the second quarter of 2024.
The Gaudi 3 accelerator promises to deliver significant improvements over its predecessor, with up to 50% faster inference and 40% better power efficiency on average compared to Nvidia (NASDAQ:NVDA)'s H100, based on internal projections.
It is designed to support AI systems with thousands of accelerators connected through Ethernet, offering a substantial leap in AI training and inference capabilities for businesses looking to deploy GenAI at scale.
Intel's strategy for open scalable AI systems encompasses hardware, software, frameworks, and tools, enabling a broad ecosystem of AI players to offer tailored solutions for enterprise-specific GenAI needs. The company has gained momentum with customers and partners across industries, with new and innovative generative AI applications.
The company's CEO, Pat Gelsinger, emphasized Intel's commitment to bringing AI everywhere across the enterprise, from PCs to data centers to the edge. The announcement also highlighted Intel's intention to create an open platform for enterprise AI in collaboration with industry leaders such as SAP, RedHat, and VMware (NYSE:VMW) to accelerate the deployment of secure GenAI systems.
Intel's roadmap includes updates on next-generation products and services across all segments of enterprise AI. The Intel Xeon 6 processors, launching this quarter, are set to deliver enhanced performance and efficiency, with specific models designed for GenAI solutions.
Moreover, Intel announced collaborations with Google (NASDAQ:GOOGL) Cloud, Thales, and Cohesity to leverage its confidential computing capabilities in their cloud instances, including Intel Trust Domain Extensions and Intel Software Guard Extensions.
The company's approach to AI is marked by openness and collaboration, aiming to facilitate enterprise adoption and accelerate business results. This press release statement underscores Intel's dedication to advancing the AI revolution and providing value for businesses worldwide.
InvestingPro Insights
Intel Corporation (NASDAQ:INTC) has been making waves with its recent announcement of the Intel Gaudi 3 AI accelerator, but what do the numbers say about the company's financial health and market performance? Let's delve into some real-time data from InvestingPro to get a clearer picture.
InvestingPro Data highlights a Market Cap of approximately $161.42 billion, reflecting Intel's significant presence in the tech industry. Despite a challenging year with Revenue Growth at -14.0% over the last twelve months as of Q4 2023, the company is showing signs of recovery with a Quarterly Revenue Growth of 9.71% in Q1 2023. The P/E Ratio stands at 92.93, which is quite high, suggesting investors have high expectations for future earnings growth.
An InvestingPro Tip worth noting is that Intel has maintained dividend payments for 33 consecutive years, showcasing a commitment to shareholder returns even in turbulent times. This could be a reassuring sign for investors looking for stability in their tech holdings.
Another crucial InvestingPro Tip is that analysts predict the company will be profitable this year. Coupled with the expected net income growth, this could indicate a positive outlook for Intel's financial performance in the near term.
For those interested in a deeper dive into Intel's financials and market performance, InvestingPro offers additional tips that could provide valuable insights. With the promo code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more expert analysis and tips. There are a total of 9 additional InvestingPro Tips available for Intel, which could be instrumental in making informed investment decisions.
Intel's commitment to innovation and expansion into the enterprise generative AI market, as evidenced by their latest product announcements, signals a forward-thinking strategy that may resonate well with investors monitoring the company's adaptability and growth potential.
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