Intel was working on developing the Intel Developer Cloud with 256 Xeon chips and 512 Gaudi chips for AI. Upon completion, AI developers will be able to use the technology to train and run new models.
Shares of semiconductor corporation Intel Corporation (NASDAQ: INTC) began to pop amid the company’s Investor Day event on announcements of incoming sooner-than-expected products. Intel shares surged, closing up 7.61% to $21.52. Before the investor event, Intel Data Center and AI Group head Sandra Rivera discussed product releases. Notably, the company experienced some delays with its fourth-generation Xeon processor for data centers, Sapphire Rapids. However, Rivera noted that Intel remains on track with its roadmap. She added that the semiconductor corporation has been reaching all its key engineering milestones.
On Wednesday, Intel revealed that customers would be testing the Granite Rapids chips on the day. It added that delivery would come after the company’s Sierra Forest chips. Another contributor to the increased shares is Rivera’s statement on a new development at Intel. She noted that the company is shifting to a more advanced production technique. The executive disclosed that a new chip would soon be unveiled, and it would be packed with more computing cores, making it faster than analysts’ prediction.
The executive vice president and general manager of the Data Center and AI Group at Intel Corporation said the fish-generation Xeon processor Emerald Rapids, is scheduled for delivery at the end of the year. Also, the next-generation Granite Rapids that customers are currently testing will be delivered in 2024 following the release of Sierra Forest. As for the Clearwater Forest, the market should expect it in 2025.
Intel Shares Pop Amid Investors Day Event
After Intel added over 7% to its shares on news of incoming products, the company has now increased 8.58% in the last five days. The semiconductor corporation’s stock has also jumped more than 20% over the past month and 20.26% in the last three months. Record shows that Intel has been doing well since the year began, as shares jumped over 19% in its year-to-date record.
According to the executive, Intel was working on developing the Intel Developer Cloud with 256 Xeon chips and 512 Gaudi chips for AI. Upon completion, AI developers will be able to use the technology to train and run new models. Emphasizing the companies’ involvement in the AI space, Rivera said:
“Customers want portability in their AI workloads. They want to build once and deploy anywhere. As we continue to deliver heterogeneous architectures for AI workloads, deploying them at scale will require software that makes it easy for developers to program and a vibrant open and secure ecosystem to flourish.”
The manager wrote on LinkedIn that Intel is continually making progress on its Xeon, FPGA, GPU, and Deep Learning Accelerator. She added the intention to regain customers’ confidence.
“Our focus remains on delivering leadership in general-purpose compute, and in today’s high-growth workloads, like AI, security, networking, and HPC. As an organization, we’re well on our way to truly democratizing AI from the cloud to the network and to the edge by enabling broader access and more cost-effective deployments through an open system,” added Rivera.
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Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience.
Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.
