Intel’s CEO Lip-Bu Tan admitted in a leaked internal meeting that it’s “too late” for the company to catch up in AI training chips, where Nvidia now controls 90% of the market.

Once a semiconductor giant, Intel has slipped out of the top 10 chipmakers and posted $16 billion in losses for Q3 2024. The company had nearly acquired Nvidia years ago for $20 billion, but now watches as Nvidia’s market cap soars to $4 trillion.

Rather than challenging Nvidia’s data center dominance, Intel is shifting focus to edge AI for personal devices and is investing $20 billion in a new manufacturing facility in Ohio.

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