Intel left behind in A.I. chip boom due to missed opportunities, NYTimes says

The story of how Intel (INTC) got left behind in A.I. represents the broader challenges the company faces, Steve Lohr and Don Clark of The New York Times reports. There were opportunities missed, wayward decisions, and poor executions, according to the Times’ interviews with more than two dozen former Intel managers, board directors, and industry analysts. Back in 2005, Intel’s CEO at the time, Paul Otellini, presented the board with the idea of buy Nvidia (NVDA) for as much as $20B, but the board resisted, two people familiar with the boardroom discussion told the Times. In more recent years, Intel stumbled into the AI market with the purchase of Nervana Systems. Its CEO Naveen Rao was named head of Intel’s fledgling AI product unit and noted that while Nvidia steadily improved its offerings, Intel faced corporate curbs on hiring engineers, manufacturing troubles, and fierce competition.